Acumen Pharmaceuticals (NASDAQ:ABOS) Rating Lowered to Hold at Lucid Cap Mkts

Acumen Pharmaceuticals (NASDAQ:ABOS) was downgraded by equities researchers at Lucid Cap Mkts from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Other research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Acumen Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 17th. Citigroup downgraded shares of Acumen Pharmaceuticals from a “buy” rating to a “hold” rating and set a $1.00 target price for the company. in a research report on Friday, October 30th. Weiss Ratings lowered shares of Acumen Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Cantor Fitzgerald cut shares of Acumen Pharmaceuticals from a “strong-buy” rating to a “strong sell” rating in a report on Friday, October 30th. Finally, BTIG Research dropped their price target on shares of Acumen Pharmaceuticals to $1.00 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $1.00.

Acumen Pharmaceuticals Trading Down 2.2%

Shares of NASDAQ ABOS opened at $0.23 on Monday. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.17. Acumen Pharmaceuticals has a one year low of $0.20 and a one year high of $3.60. The business has a 50-day moving average price of $2.29 and a two-hundred day moving average price of $2.48. The firm has a market capitalization of $16.95 million, a PE ratio of -0.15 and a beta of 0.51.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its earnings results on Monday, October 26th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.04. As a group, analysts predict that Acumen Pharmaceuticals will post -1.46 earnings per share for the current fiscal year.

Institutional Trading of Acumen Pharmaceuticals

Several large investors have recently modified their holdings of the company. ADAR1 Capital Management LLC acquired a new position in Acumen Pharmaceuticals during the 2nd quarter worth $5,637,000. BlackRock Inc. bought a new stake in Acumen Pharmaceuticals during the second quarter valued at about $6,649,000. Bank of America Corp DE bought a new stake in Acumen Pharmaceuticals during the second quarter valued at about $734,000. Spark Investment Management LLC bought a new stake in Acumen Pharmaceuticals during the second quarter valued at about $39,000. Finally, Two Sigma Securities LLC bought a new stake in Acumen Pharmaceuticals during the second quarter valued at about $32,000. 71.01% of the stock is owned by institutional investors.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for Alzheimer’s disease and other neurodegenerative disorders. The company’s research centers on amyloid beta oligomers, toxic protein assemblies that Acumen believes contribute to the development and progression of Alzheimer’s disease.

Acumen’s lead product candidate is sabirnetug, also known as ACU193, an investigational humanized monoclonal antibody designed to selectively target soluble amyloid beta oligomers.