HC Wainwright reiterated their buy rating on shares of Acumen Pharmaceuticals (NASDAQ:ABOS – Free Report) in a report issued on Wednesday morning, Benzinga reports. HC Wainwright currently has a $15.00 target price on the stock.
Separately, Deutsche Bank Aktiengesellschaft started coverage on shares of Acumen Pharmaceuticals in a research note on Tuesday, December 12th. They set a buy rating and a $8.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $12.25.
Check Out Our Latest Stock Analysis on Acumen Pharmaceuticals
Acumen Pharmaceuticals Stock Performance
Insider Buying and Selling
In related news, insider Derek M. Meisner sold 8,933 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $3.48, for a total transaction of $31,086.84. Following the transaction, the insider now directly owns 108,867 shares of the company’s stock, valued at $378,857.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Acumen Pharmaceuticals news, CEO Daniel Joseph Oconnell sold 15,200 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $3.47, for a total value of $52,744.00. Following the transaction, the chief executive officer now directly owns 502,485 shares of the company’s stock, valued at approximately $1,743,622.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Derek M. Meisner sold 8,933 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $3.48, for a total transaction of $31,086.84. Following the completion of the transaction, the insider now directly owns 108,867 shares in the company, valued at $378,857.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,208 shares of company stock valued at $110,136. 7.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On Acumen Pharmaceuticals
Several hedge funds have recently bought and sold shares of the company. RA Capital Management L.P. increased its holdings in Acumen Pharmaceuticals by 52.8% in the 3rd quarter. RA Capital Management L.P. now owns 14,932,063 shares of the company’s stock valued at $61,968,000 after buying an additional 5,161,290 shares during the period. BlackRock Inc. increased its holdings in Acumen Pharmaceuticals by 23.2% in the 1st quarter. BlackRock Inc. now owns 3,831,321 shares of the company’s stock valued at $14,980,000 after buying an additional 721,651 shares during the period. Franklin Resources Inc. increased its holdings in Acumen Pharmaceuticals by 18.3% in the 4th quarter. Franklin Resources Inc. now owns 3,358,809 shares of the company’s stock valued at $12,898,000 after buying an additional 520,044 shares during the period. Rock Springs Capital Management LP bought a new position in Acumen Pharmaceuticals in the 3rd quarter valued at about $11,672,000. Finally, Laurion Capital Management LP increased its holdings in Acumen Pharmaceuticals by 57.1% in the 3rd quarter. Laurion Capital Management LP now owns 1,895,023 shares of the company’s stock valued at $7,864,000 after buying an additional 688,475 shares during the period. 71.01% of the stock is owned by institutional investors.
Acumen Pharmaceuticals Company 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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