Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) have received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $7.00.

ABOS has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Friday, January 9th. Wall Street Zen downgraded Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, BTIG Research reaffirmed a “buy” rating and set a $8.00 price target on shares of Acumen Pharmaceuticals in a research note on Thursday.

Insider Buying and Selling at Acumen Pharmaceuticals

In related news, CEO Daniel Joseph Oconnell sold 37,755 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $1.99, for a total value of $75,132.45. Following the completion of the sale, the chief executive officer owned 619,982 shares in the company, valued at $1,233,764.18. The trade was a 5.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 149,818 shares of company stock worth $285,057. Company insiders own 9.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC bought a new stake in shares of Acumen Pharmaceuticals in the 1st quarter worth approximately $46,000. Marshall Wace LLP bought a new position in shares of Acumen Pharmaceuticals during the 2nd quarter valued at $160,000. Qube Research & Technologies Ltd grew its holdings in shares of Acumen Pharmaceuticals by 160.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock valued at $67,000 after purchasing an additional 35,424 shares during the last quarter. Jane Street Group LLC raised its position in Acumen Pharmaceuticals by 1,526.0% in the 2nd quarter. Jane Street Group LLC now owns 175,670 shares of the company’s stock worth $204,000 after purchasing an additional 164,866 shares during the period. Finally, Hudson Bay Capital Management LP raised its position in Acumen Pharmaceuticals by 7.1% in the 2nd quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock worth $957,000 after purchasing an additional 55,004 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Acumen Pharmaceuticals Stock Performance

Acumen Pharmaceuticals stock opened at $2.55 on Friday. The firm’s fifty day moving average price is $2.69 and its 200-day moving average price is $2.15. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.02 and a current ratio of 6.02. The stock has a market cap of $154.45 million, a P/E ratio of -1.15 and a beta of 0.21. Acumen Pharmaceuticals has a fifty-two week low of $0.86 and a fifty-two week high of $3.60.

About Acumen Pharmaceuticals

Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral small molecule therapies for neurodegenerative diseases. Leveraging a proprietary drug discovery platform that integrates chemoproteomics, high-throughput screening and computational chemistry, the company seeks to identify and optimize compounds that selectively modulate pathological protein aggregation. Its approach is designed to address the underlying biology of conditions such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and related proteinopathies.

The company’s pipeline comprises multiple lead candidates at various stages of preclinical and early clinical development.