HC Wainwright Weighs in on Acumen Pharmaceuticals, Inc.’s Q1 2024 Earnings (NASDAQ:ABOS)

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) – Research analysts at HC Wainwright issued their Q1 2024 earnings per share (EPS) estimates for shares of Acumen Pharmaceuticals in a research report issued to clients and investors on Wednesday, March 27th. HC Wainwright analyst A. Fein anticipates that the company will post earnings per share of ($0.26) for the quarter. HC Wainwright has a “Buy” rating and a $15.00 price target on the stock. The consensus estimate for Acumen Pharmaceuticals’ current full-year earnings is ($1.39) per share. HC Wainwright also issued estimates for Acumen Pharmaceuticals’ FY2028 earnings at ($1.16) EPS.

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on Acumen Pharmaceuticals in a research report on Tuesday, December 12th. They set a “buy” rating and a $8.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $12.25.

Acumen Pharmaceuticals Stock Performance

ABOS stock opened at $4.10 on Thursday. The company’s 50 day simple moving average is $3.70 and its 200-day simple moving average is $3.52. Acumen Pharmaceuticals has a 52-week low of $1.81 and a 52-week high of $11.31.

Insider Activity at Acumen Pharmaceuticals

In related news, CEO Daniel Joseph Oconnell sold 15,200 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $3.47, for a total transaction of $52,744.00. Following the completion of the sale, the chief executive officer now directly owns 502,485 shares of the company’s stock, valued at approximately $1,743,622.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Derek M. Meisner sold 8,933 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $3.48, for a total value of $31,086.84. Following the completion of the transaction, the insider now directly owns 108,867 shares in the company, valued at $378,857.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Joseph Oconnell sold 15,200 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $3.47, for a total transaction of $52,744.00. Following the transaction, the chief executive officer now directly owns 502,485 shares of the company’s stock, valued at $1,743,622.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,208 shares of company stock valued at $110,136. Corporate insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in ABOS. RA Capital Management L.P. boosted its stake in Acumen Pharmaceuticals by 52.8% in the 3rd quarter. RA Capital Management L.P. now owns 14,932,063 shares of the company’s stock valued at $61,968,000 after buying an additional 5,161,290 shares in the last quarter. BlackRock Inc. increased its position in shares of Acumen Pharmaceuticals by 23.2% during the 1st quarter. BlackRock Inc. now owns 3,831,321 shares of the company’s stock worth $14,980,000 after purchasing an additional 721,651 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Acumen Pharmaceuticals by 18.3% during the 4th quarter. Franklin Resources Inc. now owns 3,358,809 shares of the company’s stock valued at $12,898,000 after purchasing an additional 520,044 shares during the last quarter. Rock Springs Capital Management LP acquired a new position in Acumen Pharmaceuticals in the third quarter valued at about $11,672,000. Finally, Laurion Capital Management LP grew its stake in Acumen Pharmaceuticals by 57.1% during the third quarter. Laurion Capital Management LP now owns 1,895,023 shares of the company’s stock worth $7,864,000 after buying an additional 688,475 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

About Acumen Pharmaceuticals

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for the treatment of Alzheimer's disease. The company focuses on advancing a targeted immunotherapy drug candidate ACU193, a humanized monoclonal antibody that is in Phase I clinical-stage to target soluble amyloid-beta oligomers.