Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Update

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 1,660,000 shares, an increase of 67.6% from the June 30th total of 990,400 shares. Based on an average daily trading volume, of 411,400 shares, the days-to-cover ratio is currently 4.0 days. Approximately 3.7% of the shares of the company are sold short.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD purchased a new stake in Acumen Pharmaceuticals in the 1st quarter worth about $4,449,000. Franklin Resources Inc. grew its stake in shares of Acumen Pharmaceuticals by 18.3% during the fourth quarter. Franklin Resources Inc. now owns 3,358,809 shares of the company’s stock valued at $12,898,000 after buying an additional 520,044 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Acumen Pharmaceuticals in the second quarter worth approximately $306,000. Parkman Healthcare Partners LLC lifted its stake in shares of Acumen Pharmaceuticals by 20.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 603,497 shares of the company’s stock worth $2,317,000 after acquiring an additional 103,683 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in Acumen Pharmaceuticals by 203.8% during the 4th quarter. Jump Financial LLC now owns 103,000 shares of the company’s stock valued at $396,000 after acquiring an additional 69,100 shares during the period. Institutional investors own 71.01% of the company’s stock.

Acumen Pharmaceuticals Trading Up 2.1 %

ABOS stock opened at $3.48 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 30.20 and a quick ratio of 30.20. Acumen Pharmaceuticals has a 1-year low of $1.81 and a 1-year high of $7.62. The business has a 50 day simple moving average of $2.78 and a two-hundred day simple moving average of $3.35. The company has a market capitalization of $209.08 million, a price-to-earnings ratio of -3.28 and a beta of 0.10.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its earnings results on Monday, May 20th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). During the same period in the previous year, the company posted ($0.28) EPS. Research analysts anticipate that Acumen Pharmaceuticals will post -1.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on ABOS. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Acumen Pharmaceuticals in a report on Wednesday, May 15th. Citigroup upgraded shares of Acumen Pharmaceuticals to a “strong-buy” rating in a research note on Friday.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for the treatment of Alzheimer's disease. The company focuses on advancing a targeted immunotherapy drug candidate ACU193, a humanized monoclonal antibody that is in Phase I clinical-stage to target soluble amyloid-beta oligomers.