Acumen Pharmaceuticals (NASDAQ:ABOS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Acumen Pharmaceuticals (NASDAQ:ABOS) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Several other equities research analysts have also recently commented on ABOS. Bank of America dropped their target price on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. BTIG Research lifted their price target on Acumen Pharmaceuticals from $4.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research note on Friday, January 9th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.80.

Acumen Pharmaceuticals Price Performance

Shares of ABOS stock opened at $2.58 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.02 and a quick ratio of 6.02. Acumen Pharmaceuticals has a 1-year low of $0.86 and a 1-year high of $3.05. The firm has a fifty day moving average of $2.22 and a two-hundred day moving average of $1.89. The firm has a market cap of $156.27 million, a P/E ratio of -1.16 and a beta of 0.24.

Insider Activity

In other news, CEO Daniel Joseph Oconnell sold 37,755 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $1.99, for a total value of $75,132.45. Following the transaction, the chief executive officer owned 619,982 shares in the company, valued at $1,233,764.18. This represents a 5.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 149,818 shares of company stock valued at $285,057 in the last ninety days. 7.10% of the stock is owned by corporate insiders.

Institutional Trading of Acumen Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Acumen Pharmaceuticals in the third quarter valued at $691,000. Y Intercept Hong Kong Ltd bought a new position in shares of Acumen Pharmaceuticals during the 2nd quarter valued at about $291,000. Jane Street Group LLC increased its holdings in Acumen Pharmaceuticals by 1,526.0% during the 2nd quarter. Jane Street Group LLC now owns 175,670 shares of the company’s stock worth $204,000 after purchasing an additional 164,866 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at approximately $160,000. Finally, Bridgeway Capital Management LLC increased its stake in Acumen Pharmaceuticals by 65.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 190,171 shares of the company’s stock valued at $325,000 after buying an additional 75,000 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral small molecule therapies for neurodegenerative diseases. Leveraging a proprietary drug discovery platform that integrates chemoproteomics, high-throughput screening and computational chemistry, the company seeks to identify and optimize compounds that selectively modulate pathological protein aggregation. Its approach is designed to address the underlying biology of conditions such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and related proteinopathies.

The company’s pipeline comprises multiple lead candidates at various stages of preclinical and early clinical development.