Murchinson Ltd. acquired a new position in shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS – Free Report) 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 – Get Free Report) 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.
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