Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Down 5.4% in November

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the recipient of a large drop in short interest in November. As of November 30th, there was short interest totalling 1,390,000 shares, a drop of 5.4% from the November 15th total of 1,470,000 shares. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 202,200 shares, the days-to-cover ratio is currently 6.9 days.

Acumen Pharmaceuticals Stock Performance

NASDAQ:ABOS opened at $1.97 on Tuesday. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. The firm’s fifty day simple moving average is $2.52 and its 200 day simple moving average is $2.60. The stock has a market cap of $118.36 million, a P/E ratio of -1.43 and a beta of -0.07. Acumen Pharmaceuticals has a twelve month low of $1.92 and a twelve month high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same quarter last year, the firm earned ($0.24) EPS. As a group, research analysts predict that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in Acumen Pharmaceuticals by 0.3% in the 3rd quarter. FMR LLC now owns 2,028,117 shares of the company’s stock worth $5,030,000 after purchasing an additional 6,014 shares in the last quarter. American Century Companies Inc. lifted 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 valued at $110,000 after acquiring an additional 10,840 shares during the period. SG Americas Securities LLC bought a new position in Acumen Pharmaceuticals during the 3rd quarter valued at about $44,000. Barclays PLC lifted its stake in Acumen Pharmaceuticals by 189.1% during the 3rd quarter. Barclays PLC now owns 61,997 shares of the company’s stock valued at $154,000 after acquiring an additional 40,551 shares during the period. Finally, Rhumbline Advisers bought a new position in Acumen Pharmaceuticals during the 2nd quarter valued at about $127,000. Institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Acumen Pharmaceuticals in a research note on Wednesday, November 13th.

About Acumen Pharmaceuticals

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.