Acumen Pharmaceuticals (NASDAQ:ABOS) Stock Rating Lowered by Wall Street Zen

Acumen Pharmaceuticals (NASDAQ:ABOS) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

ABOS has been the topic of several other reports. BTIG Research reissued a “buy” rating and issued a $8.00 target price on shares of Acumen Pharmaceuticals in a report on Thursday, March 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Wednesday, April 8th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Acumen Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $6.67.

Acumen Pharmaceuticals Stock Performance

Acumen Pharmaceuticals stock opened at $2.37 on Friday. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.19. The business’s fifty day simple moving average is $2.49 and its two-hundred day simple moving average is $2.42. Acumen Pharmaceuticals has a 12 month low of $1.05 and a 12 month high of $3.60. The company has a market capitalization of $171.19 million, a price-to-earnings ratio of -1.27 and a beta of 0.34.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its earnings results on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.07. As a group, equities analysts predict that Acumen Pharmaceuticals will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. bought a new position in shares of Acumen Pharmaceuticals during the third quarter valued at $27,000. Bank of America Corp DE lifted its holdings in shares of Acumen Pharmaceuticals by 33.3% during the first quarter. Bank of America Corp DE now owns 320,216 shares of the company’s stock valued at $756,000 after purchasing an additional 80,064 shares in the last quarter. Sei Investments Co. bought a new position in shares of Acumen Pharmaceuticals during the first quarter valued at $27,000. Dimensional Fund Advisors LP increased its position in Acumen Pharmaceuticals by 144.1% during the first quarter. Dimensional Fund Advisors LP now owns 119,756 shares of the company’s stock valued at $282,000 after acquiring an additional 70,694 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Acumen Pharmaceuticals by 12.0% during the first quarter. Renaissance Technologies LLC now owns 473,946 shares of the company’s stock valued at $1,119,000 after acquiring an additional 50,846 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral small molecule therapies for neurodegenerative diseases. Leveraging a proprietary drug discovery platform that integrates chemoproteomics, high-throughput screening and computational chemistry, the company seeks to identify and optimize compounds that selectively modulate pathological protein aggregation. Its approach is designed to address the underlying biology of conditions such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and related proteinopathies.

The company’s pipeline comprises multiple lead candidates at various stages of preclinical and early clinical development.