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

Acumen Pharmaceuticals (NASDAQ:ABOS) had its target price reduced by research analysts at HC Wainwright from $15.00 to $11.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Acumen Pharmaceuticals Stock Up 6.0 %

Shares of ABOS opened at $1.23 on Friday. Acumen Pharmaceuticals has a 12-month low of $1.10 and a 12-month high of $4.28. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $73.90 million, a PE ratio of -0.89 and a beta of 0.02. The business’s 50 day moving average is $1.39 and its 200 day moving average is $2.00.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings data 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). Research analysts expect that Acumen Pharmaceuticals will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Acumen Pharmaceuticals

In related news, CEO Daniel Joseph Oconnell sold 47,778 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $1.84, for a total value of $87,911.52. Following the sale, the chief executive officer now owns 454,707 shares in the company, valued at approximately $836,660.88. The trade was a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Matt Zuga sold 28,902 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $1.72, for a total transaction of $49,711.44. Following the transaction, the chief financial officer now owns 231,744 shares of the company’s stock, valued at $398,599.68. This trade represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 131,526 shares of company stock valued at $233,124 in the last 90 days. Insiders own 7.10% of the company’s stock.

Institutional Trading of Acumen Pharmaceuticals

Large investors have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC purchased a new position in Acumen Pharmaceuticals in the fourth quarter worth about $25,000. Clune & Associates LTD. bought a new stake in shares of Acumen Pharmaceuticals in the 4th quarter valued at approximately $28,000. Intech Investment Management LLC purchased a new position in shares of Acumen Pharmaceuticals in the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC boosted its holdings in shares of Acumen Pharmaceuticals by 427.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 20,624 shares of the company’s stock worth $35,000 after purchasing an additional 16,714 shares during the period. Finally, SG Americas Securities LLC increased its position 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 valued at $44,000 after purchasing an additional 7,859 shares during the last quarter. 71.01% of the stock is currently 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.