UBS Group Lowers Acumen Pharmaceuticals (NASDAQ:ABOS) Price Target to $4.00

Acumen Pharmaceuticals (NASDAQ:ABOS) had its price target cut by analysts at UBS Group from $6.00 to $4.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 238.98% from the stock’s previous close.

Separately, HC Wainwright reduced their price objective on Acumen Pharmaceuticals from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday.

Acumen Pharmaceuticals Stock Down 4.1 %

Shares of ABOS opened at $1.18 on Friday. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. Acumen Pharmaceuticals has a 12 month low of $1.10 and a 12 month high of $4.28. The firm’s 50 day moving average is $1.39 and its 200-day moving average is $2.00. The stock has a market capitalization of $70.89 million, a PE ratio of -0.86 and a beta of 0.02.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.15). Equities research analysts forecast that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

Insider Activity at Acumen Pharmaceuticals

In other news, CFO Matt Zuga sold 28,902 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total transaction of $49,711.44. Following the completion of the sale, the chief financial officer now owns 231,744 shares in the company, valued at $398,599.68. The trade was a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Daniel Joseph Oconnell sold 47,778 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total value of $87,911.52. Following the transaction, the chief executive officer now directly owns 454,707 shares in the company, valued at $836,660.88. The trade was a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,526 shares of company stock worth $233,124 over the last three months. Company insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in ABOS. Susquehanna Fundamental Investments LLC bought a new position in Acumen Pharmaceuticals in the 4th quarter valued at $25,000. Clune & Associates LTD. bought a new position in Acumen Pharmaceuticals during the fourth quarter valued at $28,000. Intech Investment Management LLC purchased a new stake in Acumen Pharmaceuticals in the fourth quarter worth $32,000. Tower Research Capital LLC TRC raised its stake in shares of Acumen Pharmaceuticals by 427.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 20,624 shares of the company’s stock valued at $35,000 after buying an additional 16,714 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Acumen Pharmaceuticals by 44.2% during the 4th quarter. SG Americas Securities LLC now owns 25,631 shares of the company’s stock worth $44,000 after acquiring an additional 7,859 shares during the period. 71.01% of the stock is owned by institutional investors.

Acumen Pharmaceuticals Company Profile

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.