Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Receives Average Recommendation of “Moderate Buy” from Analysts

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) has been assigned a consensus recommendation of “Moderate Buy” from the four analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.6667.

ABOS has been the subject of several research analyst reports. Wall Street Zen upgraded Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. BTIG Research reiterated a “buy” rating and issued a $8.00 target price on shares of Acumen Pharmaceuticals in a research report on Thursday, March 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Friday, January 9th.

Insider Activity

In related news, CEO Daniel Joseph Oconnell sold 37,755 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $1.99, for a total transaction of $75,132.45. Following the completion of the transaction, the chief executive officer owned 619,982 shares of the company’s stock, valued at $1,233,764.18. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 149,818 shares of company stock worth $285,057 over the last three months. Company insiders own 9.30% of the company’s stock.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Acumen Pharmaceuticals in the 3rd quarter valued at about $27,000. Independent Advisor Alliance purchased a new stake in Acumen Pharmaceuticals in the 4th quarter worth approximately $40,000. PFG Investments LLC boosted its position in Acumen Pharmaceuticals by 65.2% in the 4th quarter. PFG Investments LLC now owns 19,000 shares of the company’s stock worth $40,000 after purchasing an additional 7,500 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Acumen Pharmaceuticals during the 4th quarter worth approximately $44,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Acumen Pharmaceuticals during the 4th quarter valued at approximately $47,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Acumen Pharmaceuticals Price Performance

NASDAQ ABOS opened at $2.70 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.07 and a quick ratio of 4.07. The stock’s fifty day moving average price is $2.74 and its 200 day moving average price is $2.19. Acumen Pharmaceuticals has a 1 year low of $0.86 and a 1 year high of $3.60. The company has a market cap of $194.98 million, a price-to-earnings ratio of -1.34 and a beta of 0.34.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its quarterly earnings results on Thursday, March 26th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.09. The firm had revenue of ($0.09) million for the quarter. As a group, equities research analysts forecast that Acumen Pharmaceuticals will post -1.56 earnings per share for the current year.

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.