Renaissance Technologies LLC Invests $818,000 in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

Renaissance Technologies LLC purchased a new stake in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 338,100 shares of the company’s stock, valued at approximately $818,000. Renaissance Technologies LLC owned 0.56% of Acumen Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABOS. Price T Rowe Associates Inc. MD purchased a new position in Acumen Pharmaceuticals in the 1st quarter valued at $4,449,000. Bank of New York Mellon Corp purchased a new position in Acumen Pharmaceuticals during the second quarter worth about $306,000. Parkman Healthcare Partners LLC lifted its position in Acumen Pharmaceuticals by 20.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 603,497 shares of the company’s stock valued at $2,317,000 after purchasing an additional 103,683 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Acumen Pharmaceuticals in the 1st quarter valued at approximately $253,000. Finally, Rhumbline Advisers acquired a new position in Acumen Pharmaceuticals during the 2nd quarter worth approximately $127,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Acumen Pharmaceuticals Price Performance

Shares of NASDAQ ABOS opened at $2.38 on Tuesday. 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 stock has a market cap of $142.99 million, a price-to-earnings ratio of -2.25 and a beta of 0.07. The company’s 50-day moving average price is $2.65 and its 200 day moving average price is $2.98. Acumen Pharmaceuticals, Inc. has a 52 week low of $1.81 and a 52 week high of $5.09.

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 analysts’ consensus estimates of ($0.28) by ($0.06). During the same quarter in the previous year, the firm earned ($0.28) earnings per share. As a group, research analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ABOS shares. Citigroup raised Acumen Pharmaceuticals to a “strong-buy” rating in a report on Friday, July 26th. UBS Group reduced their price objective 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, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Acumen Pharmaceuticals in a report on Thursday, October 3rd.

Acumen Pharmaceuticals Company 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.