Acumen Pharmaceuticals (NASDAQ:ABOS) Upgraded by Wall Street Zen to "Hold" Rating
Wall Street Zen upgraded Acumen Pharmaceuticals from a "strong sell" to a "hold" rating. Other analysts have mixed views, with some maintaining a sell rating and others a buy. The stock opened at $1.73, with a market cap of $104.79 million. Acumen focuses on Alzheimer's therapies and recently reported better-than-expected earnings. Institutional investors hold 71.01% of the stock. Despite a moderate buy rating, some analysts suggest better investment options.
Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "strong sell" rating to a "hold" rating in a research note issued on Saturday.
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Other research analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Acumen Pharmaceuticals in a research note on Tuesday, October 14th. Bank of America cut their price target on shares of Acumen Pharmaceuticals from $10.00 to $9.00 and set a "buy" rating for the company in a report on Monday, August 25th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Acumen Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $7.00.
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Acumen Pharmaceuticals Price Performance
- Acumen Soars on Alzheimer's Study...Street Sees It Doubling
Shares of NASDAQ:ABOS opened at $1.73 on Friday. Acumen Pharmaceuticals has a 12 month low of $0.86 and a 12 month high of $2.62. The stock has a market cap of $104.79 million, a price-to-earnings ratio of -0.78 and a beta of 0.23. The stock's 50 day moving average price is $1.80 and its 200 day moving average price is $1.44. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.02 and a quick ratio of 5.97.
Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.63) by $0.19. Equities research analysts anticipate that Acumen Pharmaceuticals will post -1.56 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Acumen Pharmaceuticals
Several hedge funds have recently modified their holdings of ABOS. SG Americas Securities LLC purchased a new position in Acumen Pharmaceuticals in the 3rd quarter worth about $691,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Acumen Pharmaceuticals in the second quarter worth about $291,000. Jane Street Group LLC boosted its holdings in shares of Acumen Pharmaceuticals by 1,526.0% in the second quarter. Jane Street Group LLC now owns 175,670 shares of the company's stock worth $204,000 after buying an additional 164,866 shares during the period. Marshall Wace LLP purchased a new position in shares of Acumen Pharmaceuticals in the second quarter worth approximately $160,000. Finally, Invesco Ltd. raised its holdings in shares of Acumen Pharmaceuticals by 544.1% during the first quarter. Invesco Ltd. now owns 127,798 shares of the company's stock valued at $141,000 after acquiring an additional 107,956 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.
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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