Acumen Pharmaceuticals (NASDAQ:ABOS) Receives “Buy” Rating from HC Wainwright

Acumen Pharmaceuticals (NASDAQ:ABOS)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $15.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 447.45% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. UBS Group cut their target price on Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Citigroup upgraded shares of Acumen Pharmaceuticals to a “strong-buy” rating in a research report on Friday, July 26th.

Acumen Pharmaceuticals Stock Performance

Shares of ABOS stock traded up $0.07 during trading on Wednesday, hitting $2.74. The company’s stock had a trading volume of 16,065 shares, compared to its average volume of 326,543. The company has a market cap of $164.62 million, a PE ratio of -2.45 and a beta of 0.04. 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 business has a fifty day moving average of $2.61 and a 200-day moving average of $2.80. Acumen Pharmaceuticals has a 52 week low of $2.01 and a 52 week high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.06). During the same quarter in the prior year, the company earned ($0.28) earnings per share. As a group, research analysts anticipate that Acumen Pharmaceuticals will post -1.32 earnings per share for the current year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Gladius Capital Management LP purchased a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter valued at $26,000. SG Americas Securities LLC purchased a new stake in shares of Acumen Pharmaceuticals in the 1st quarter valued at $52,000. American Century Companies Inc. raised its holdings in Acumen Pharmaceuticals by 31.3% during the 2nd quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after buying an additional 10,840 shares during the last quarter. Rhumbline Advisers bought a new stake in Acumen Pharmaceuticals during the 2nd quarter valued at $127,000. Finally, Murchinson Ltd. bought a new stake in Acumen Pharmaceuticals during the 2nd quarter valued at $136,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.