Acumen Pharmaceuticals (NASDAQ:ABOS) Now Covered by Citigroup

Citigroup initiated coverage on shares of Acumen Pharmaceuticals (NASDAQ:ABOS) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $4.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. UBS Group lowered their price target on shares of Acumen Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, March 28th. HC Wainwright lowered their price target on shares of Acumen Pharmaceuticals from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, March 28th.

Acumen Pharmaceuticals Trading Up 7.0%

Shares of ABOS stock opened at $1.22 on Tuesday. Acumen Pharmaceuticals has a 1 year low of $0.86 and a 1 year high of $3.60. The firm’s fifty day simple moving average is $1.06 and its 200 day simple moving average is $1.37. The firm has a market capitalization of $73.90 million, a P/E ratio of -0.63 and a beta of 0.05. The company has a current ratio of 8.02, a quick ratio of 8.02 and a debt-to-equity ratio of 0.19.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its earnings results on Tuesday, May 13th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.08. During the same quarter in the prior year, the business posted ($0.25) EPS. As a group, sell-side analysts predict that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ABOS. Susquehanna Fundamental Investments LLC bought a new stake in shares of Acumen Pharmaceuticals in the 4th quarter worth about $25,000. Clune & Associates LTD. bought a new stake in shares of Acumen Pharmaceuticals in the 4th quarter worth about $28,000. Intech Investment Management LLC bought a new stake in shares of Acumen Pharmaceuticals in the 4th quarter worth about $32,000. Tower Research Capital LLC TRC grew its holdings in shares of Acumen Pharmaceuticals by 427.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 20,624 shares of the company’s stock worth $35,000 after purchasing an additional 16,714 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Acumen Pharmaceuticals by 116.1% in the 4th quarter. Jane Street Group LLC now owns 30,740 shares of the company’s stock worth $53,000 after purchasing an additional 221,144 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Acumen Pharmaceuticals Company 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.