Acumen Pharmaceuticals (NASDAQ:ABOS) Given New $6.00 Price Target at UBS Group

Acumen Pharmaceuticals (NASDAQ:ABOS) had its price target decreased by UBS Group from $14.00 to $6.00 in a research note issued to investors on Thursday, Marketbeat.com reports. UBS Group currently has a buy rating on the stock.

A number of other brokerages have also recently commented on ABOS. Citigroup raised Acumen Pharmaceuticals to a strong-buy rating in a research report on Friday, July 26th. HC Wainwright reissued a buy rating and set a $15.00 price objective on shares of Acumen Pharmaceuticals in a research report on Wednesday.

Acumen Pharmaceuticals Stock Up 0.8 %

ABOS traded up $0.02 during trading on Thursday, reaching $2.60. The stock had a trading volume of 95,726 shares, compared to its average volume of 381,375. The company has a current ratio of 30.20, a quick ratio of 30.20 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $156.21 million, a price-to-earnings ratio of -2.43 and a beta of 0.11. The stock’s 50 day moving average is $2.70 and its two-hundred day moving average is $3.28. Acumen Pharmaceuticals has a one year low of $1.81 and a one year high of $6.78.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.06). During the same period in the prior year, the company posted ($0.28) EPS. As a group, analysts expect that Acumen Pharmaceuticals will post -1.13 earnings per share for the current year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Gladius Capital Management LP bought a new stake in shares of Acumen Pharmaceuticals in the second quarter worth $26,000. SG Americas Securities LLC purchased a new position in Acumen Pharmaceuticals in the first quarter worth about $52,000. Chicago Partners Investment Group LLC grew its stake in shares of Acumen Pharmaceuticals by 34.9% during the 4th quarter. Chicago Partners Investment Group LLC now owns 18,315 shares of the company’s stock valued at $70,000 after purchasing an additional 4,736 shares during the period. American Century Companies Inc. increased its position in shares of Acumen Pharmaceuticals by 31.3% during the 2nd quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after purchasing an additional 10,840 shares during the last quarter. Finally, Rhumbline Advisers purchased a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter valued at about $127,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Acumen Pharmaceuticals Company Profile

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.