Wall Street Zen Downgrades Acumen Pharmaceuticals (NASDAQ:ABOS) to Sell

Acumen Pharmaceuticals (NASDAQ:ABOS) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other brokerages have also commented on ABOS. BTIG Research raised their price objective on Acumen Pharmaceuticals from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Friday, January 9th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Acumen Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Acumen Pharmaceuticals Stock Performance

Shares of Acumen Pharmaceuticals stock opened at $2.68 on Friday. Acumen Pharmaceuticals has a 12 month low of $0.86 and a 12 month high of $3.60. The company has a quick ratio of 6.02, a current ratio of 6.02 and a debt-to-equity ratio of 0.29. The stock has a market cap of $162.09 million, a PE ratio of -1.21 and a beta of 0.20. The business has a fifty day simple moving average of $2.62 and a 200-day simple moving average of $2.13.

Insider Buying and Selling

In other Acumen Pharmaceuticals news, CEO Daniel Joseph Oconnell sold 37,755 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were 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 directly owned 619,982 shares of the company’s stock, valued at $1,233,764.18. The trade was a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 149,818 shares of company stock valued at $285,057 over the last ninety days. Insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. bought a new stake in Acumen Pharmaceuticals in the third quarter worth $27,000. Marex Group plc bought a new position in Acumen Pharmaceuticals during the second quarter valued at about $39,000. Independent Advisor Alliance bought a new position in Acumen Pharmaceuticals during the fourth quarter valued at about $40,000. PFG Investments LLC lifted its position in shares of Acumen Pharmaceuticals by 65.2% in the fourth quarter. PFG Investments LLC now owns 19,000 shares of the company’s stock worth $40,000 after buying an additional 7,500 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Acumen Pharmaceuticals in the fourth quarter worth about $44,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Acumen Pharmaceuticals Company Profile

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.