Research Analysts Set Expectations for ABOS FY2029 Earnings

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) – HC Wainwright issued their FY2029 earnings per share (EPS) estimates for shares of Acumen Pharmaceuticals in a research note issued to investors on Friday, March 28th. HC Wainwright analyst A. Fein forecasts that the company will post earnings per share of ($2.03) for the year. HC Wainwright currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for Acumen Pharmaceuticals’ current full-year earnings is ($1.56) per share.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.15).

Separately, UBS Group cut their price target on shares of Acumen Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, March 28th.

Acumen Pharmaceuticals Price Performance

Shares of Acumen Pharmaceuticals stock opened at $1.08 on Monday. The firm has a market cap of $64.59 million, a P/E ratio of -0.78 and a beta of 0.02. The firm’s 50-day simple moving average is $1.35 and its 200-day simple moving average is $1.96. Acumen Pharmaceuticals has a twelve month low of $1.06 and a twelve month high of $4.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.43 and a current ratio of 10.43.

Institutional Trading of Acumen Pharmaceuticals

Large investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in Acumen Pharmaceuticals by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 3,549,069 shares of the company’s stock worth $8,340,000 after buying an additional 181,451 shares in the last quarter. FMR LLC raised its stake in shares of Acumen Pharmaceuticals by 0.3% in the third quarter. FMR LLC now owns 2,028,117 shares of the company’s stock worth $5,030,000 after acquiring an additional 6,014 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Acumen Pharmaceuticals by 1,387.2% during the fourth quarter. JPMorgan Chase & Co. now owns 937,908 shares of the company’s stock worth $1,613,000 after purchasing an additional 874,842 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Acumen Pharmaceuticals by 6.5% during the third quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock valued at $2,144,000 after purchasing an additional 52,395 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Acumen Pharmaceuticals by 18.3% in the third quarter. State Street Corp now owns 516,406 shares of the company’s stock valued at $1,281,000 after purchasing an additional 79,841 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $87,911.52. Following the transaction, the chief executive officer now directly owns 454,707 shares of the company’s stock, valued at $836,660.88. The trade was a 9.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matt Zuga sold 28,902 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 231,744 shares of the company’s stock, valued at $398,599.68. This represents a 11.09 % 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. 7.10% of the stock is currently owned by corporate insiders.

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.