HC Wainwright Reiterates Buy Rating for Acumen Pharmaceuticals (NASDAQ:ABOS)

HC Wainwright reiterated their buy rating on shares of Acumen Pharmaceuticals (NASDAQ:ABOS) in a report issued on Thursday, Benzinga reports. They currently have a $15.00 price target on the stock.

ABOS has been the topic of a number of other research reports. Citigroup raised shares of Acumen Pharmaceuticals to a strong-buy rating in a research note on Friday, July 26th. UBS Group dropped their price objective on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a buy rating on the stock in a report on Thursday, August 15th.

Acumen Pharmaceuticals Stock Performance

Shares of Acumen Pharmaceuticals stock opened at $2.37 on Thursday. The stock’s fifty day simple moving average is $2.65 and its 200 day simple moving average is $3.00. The company has a current ratio of 17.37, a quick ratio of 17.37 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $142.39 million, a PE ratio of -2.24 and a beta of 0.07. Acumen Pharmaceuticals has a 12 month low of $1.81 and a 12 month high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). During the same period in the prior year, the business earned ($0.28) earnings per share. On average, research analysts predict that Acumen Pharmaceuticals will post -1.32 EPS for the current year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP bought a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth approximately $26,000. SG Americas Securities LLC acquired a new position in Acumen Pharmaceuticals during the third quarter worth $44,000. Chicago Partners Investment Group LLC boosted its holdings in Acumen Pharmaceuticals by 34.9% during the fourth quarter. Chicago Partners Investment Group LLC now owns 18,315 shares of the company’s stock worth $70,000 after purchasing an additional 4,736 shares during the last quarter. American Century Companies Inc. grew its position in Acumen Pharmaceuticals by 31.3% in the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after purchasing an additional 10,840 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in Acumen Pharmaceuticals in the 2nd quarter valued at $127,000. Institutional investors own 71.01% of the company’s stock.

About Acumen Pharmaceuticals

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.