Acumen Pharmaceuticals’ (ABOS) Buy Rating Reiterated at BTIG Research

Acumen Pharmaceuticals (NASDAQ:ABOS)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $8.00 price objective on the stock. BTIG Research’s price objective suggests a potential upside of 188.29% from the company’s current price.

ABOS has been the subject of a number of other research reports. Citigroup increased their target price on Acumen Pharmaceuticals from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen lowered shares of Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Monday, July 6th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Acumen Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Acumen Pharmaceuticals Trading Down 4.0%

NASDAQ ABOS traded down $0.12 during mid-day trading on Wednesday, reaching $2.77. 152,256 shares of the stock were exchanged, compared to its average volume of 565,377. Acumen Pharmaceuticals has a 1-year low of $1.22 and a 1-year high of $3.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.47 and a current ratio of 2.47. The business’s fifty day simple moving average is $2.63 and its 200 day simple moving average is $2.62. The stock has a market capitalization of $200.69 million, a PE ratio of -1.71 and a beta of 0.37.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.09). On average, research analysts anticipate that Acumen Pharmaceuticals will post -1.6 earnings per share for the current fiscal year.

Institutional Trading of Acumen Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC grew its position in Acumen Pharmaceuticals by 248.7% in the second quarter. Squarepoint Ops LLC now owns 52,351 shares of the company’s stock worth $140,000 after buying an additional 37,336 shares during the last quarter. Spark Investment Management LLC acquired a new position in shares of Acumen Pharmaceuticals in the 2nd quarter worth $39,000. Two Sigma Securities LLC acquired a new position in shares of Acumen Pharmaceuticals in the 2nd quarter worth $32,000. Bank of America Corp DE acquired a new stake in shares of Acumen Pharmaceuticals during the second quarter worth $734,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Acumen Pharmaceuticals during the second quarter worth $5,637,000. 71.01% of the stock is currently owned by institutional investors.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc (NASDAQ: ABOS) is a clinical-stage biopharmaceutical company focused on developing treatments for Alzheimer’s disease. The company’s research is centered on amyloid-beta oligomers, toxic protein assemblies that Acumen believes play a key role in the development and progression of neurodegenerative disease.

Acumen’s lead product candidate is sabirnetug, formerly known as ACU193, an investigational monoclonal antibody designed to selectively target amyloid-beta oligomers while avoiding much of the amyloid plaque targeted by some other Alzheimer’s therapies.