Barclays PLC Raises Position in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

Barclays PLC increased its holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 50.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,082 shares of the company’s stock after purchasing an additional 31,085 shares during the period. Barclays PLC owned 0.15% of Acumen Pharmaceuticals worth $161,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ABOS. ADAR1 Capital Management LLC acquired a new position in Acumen Pharmaceuticals during the fourth quarter worth approximately $162,000. JPMorgan Chase & Co. grew its stake in shares of Acumen Pharmaceuticals by 1,387.2% during the 4th quarter. JPMorgan Chase & Co. now owns 937,908 shares of the company’s stock valued at $1,613,000 after buying an additional 874,842 shares during the period. Clune & Associates LTD. acquired a new stake in shares of Acumen Pharmaceuticals during the 4th quarter worth $28,000. Intech Investment Management LLC purchased a new position in shares of Acumen Pharmaceuticals in the 4th quarter worth $32,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Acumen Pharmaceuticals by 16.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 126,747 shares of the company’s stock valued at $218,000 after acquiring an additional 18,004 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. UBS Group reduced their price objective on Acumen Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. HC Wainwright reduced their price target on shares of Acumen Pharmaceuticals from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, March 28th.

Acumen Pharmaceuticals Stock Performance

NASDAQ:ABOS opened at $1.05 on Wednesday. The business’s 50-day moving average is $1.10 and its two-hundred day moving average is $1.64. The firm has a market capitalization of $63.60 million, a PE ratio of -0.76 and a beta of 0.09. Acumen Pharmaceuticals, Inc. has a 12 month low of $0.86 and a 12 month high of $3.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its earnings results on Tuesday, May 13th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.08. During the same period last year, the business posted ($0.25) earnings per share. Research analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Acumen Pharmaceuticals Profile

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.