Acumen Pharmaceuticals’ (ABOS) Sell (D-) Rating Reiterated at Weiss Ratings

by · The Markets Daily

Weiss Ratings restated their sell (d-) rating on shares of Acumen Pharmaceuticals (NASDAQ:ABOS – Free Report) in a research report sent to investors on Tuesday,Weiss Ratings reports.

ABOS has been the subject of several other research reports. Citigroup started coverage on shares of Acumen Pharmaceuticals in a research report on Tuesday, June 17th. They issued a “buy” rating and a $4.00 price target for the company. Bank of America reduced their price target on shares of Acumen Pharmaceuticals from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, August 25th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Acumen Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $7.00.

View Our Latest Research Report on Acumen Pharmaceuticals

Acumen Pharmaceuticals Stock Down 6.6%

Shares of NASDAQ:ABOS opened at $2.13 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.97 and a current ratio of 5.97. The company has a market cap of $129.01 million, a PE ratio of -0.93 and a beta of 0.20. Acumen Pharmaceuticals has a 52 week low of $0.86 and a 52 week high of $3.36. The firm has a 50 day simple moving average of $1.53 and a 200 day simple moving average of $1.29.

Acumen Pharmaceuticals (NASDAQ:ABOS – Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.14). As a group, research analysts expect that Acumen Pharmaceuticals will post -1.56 earnings per share for the current year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP lifted its position in Acumen Pharmaceuticals by 7.1% in the 2nd quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock worth $957,000 after buying an additional 55,004 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth $291,000. Jane Street Group LLC increased its stake in shares of Acumen Pharmaceuticals by 1,526.0% during the 2nd quarter. Jane Street Group LLC now owns 175,670 shares of the company’s stock worth $204,000 after purchasing an additional 164,866 shares during the last quarter. ADAR1 Capital Management LLC increased its stake in shares of Acumen Pharmaceuticals by 55.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 146,183 shares of the company’s stock worth $161,000 after purchasing an additional 51,889 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth $160,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Acumen Pharmaceuticals

(Get Free Report)

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops targeted therapies for the treatment of Alzheimer’s disease. The company focuses on advancing a targeted immunotherapy drug candidate sabirnetug (ACU193), a recombinant humanized immunoglobulin gamma 2 that completed Phase I clinical trial to target soluble amyloid-beta oligomers.

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