Murchinson Ltd. Purchases Shares of 56,250 Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

Murchinson Ltd. acquired a new position in shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 56,250 shares of the company’s stock, valued at approximately $136,000. Murchinson Ltd. owned 0.09% of Acumen Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Gladius Capital Management LP acquired a new stake in Acumen Pharmaceuticals in the second quarter worth $26,000. SG Americas Securities LLC acquired a new stake in shares of Acumen Pharmaceuticals in the 1st quarter valued at about $52,000. Chicago Partners Investment Group LLC increased its position in Acumen Pharmaceuticals by 34.9% in the 4th quarter. Chicago Partners Investment Group LLC now owns 18,315 shares of the company’s stock valued at $70,000 after buying an additional 4,736 shares in the last quarter. American Century Companies Inc. raised its stake in Acumen Pharmaceuticals by 31.3% during the 2nd quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock worth $110,000 after buying an additional 10,840 shares during the period. Finally, Rhumbline Advisers bought a new position in Acumen Pharmaceuticals in the second quarter worth approximately $127,000. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

ABOS has been the subject of several recent research reports. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Acumen Pharmaceuticals in a report on Wednesday, August 14th. UBS Group decreased their price target on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Citigroup raised shares of Acumen Pharmaceuticals to a “strong-buy” rating in a research note on Friday, July 26th.

Acumen Pharmaceuticals Stock Down 5.2 %

Shares of NASDAQ:ABOS opened at $2.37 on Tuesday. The stock has a market cap of $142.39 million, a price-to-earnings ratio of -2.24 and a beta of 0.09. The business’s 50 day moving average is $2.79 and its 200 day moving average is $3.09. Acumen Pharmaceuticals, Inc. has a 12-month low of $1.81 and a 12-month high of $5.09. The company has a quick ratio of 17.37, a current ratio of 17.37 and a debt-to-equity ratio of 0.12.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted 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 period in the previous year, the company posted ($0.28) EPS. On average, sell-side analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.32 earnings per share for the current fiscal year.

Acumen Pharmaceuticals Profile

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for the treatment of Alzheimer's disease. The company focuses on advancing a targeted immunotherapy drug candidate ACU193, a humanized monoclonal antibody that is in Phase I clinical-stage to target soluble amyloid-beta oligomers.