Acumen Pharmaceuticals (NASDAQ:ABOS) Price Target Lowered to $11.00 at HC Wainwright

Acumen Pharmaceuticals (NASDAQ:ABOS) had its target price cut by HC Wainwright from $15.00 to $11.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Acumen Pharmaceuticals Stock Performance

Shares of ABOS stock opened at $1.19 on Friday. Acumen Pharmaceuticals has a 12 month low of $1.10 and a 12 month high of $4.06. The company’s fifty day simple moving average is $1.38 and its 200-day simple moving average is $1.99. The firm has a market cap of $71.50 million, a PE ratio of -0.86 and a beta of 0.02. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14.

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

Insider Activity at Acumen Pharmaceuticals

In other Acumen Pharmaceuticals news, CEO Daniel Joseph Oconnell sold 47,778 shares of the business’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 transaction of $87,911.52. Following the transaction, the chief executive officer now owns 454,707 shares of the company’s stock, valued at $836,660.88. The trade was a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matt Zuga sold 28,902 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $1.72, for a total value 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. This represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,526 shares of company stock valued at $233,124. 7.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Acumen Pharmaceuticals

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

About Acumen Pharmaceuticals

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.