Acumen Pharmaceuticals (NASDAQ:ABOS) Earns Buy Rating from Analysts at Citigroup

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

Several other research firms also recently weighed in on ABOS. HC Wainwright dropped their target price on shares of Acumen Pharmaceuticals from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, March 28th. UBS Group cut their target price on shares of Acumen Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, March 28th.

Acumen Pharmaceuticals Stock Performance

NASDAQ ABOS opened at $1.22 on Tuesday. The stock has a market capitalization of $73.90 million, a P/E ratio of -0.63 and a beta of 0.05. Acumen Pharmaceuticals has a 52-week low of $0.86 and a 52-week high of $3.60. The firm has a 50-day moving average price of $1.06 and a 200 day moving average price of $1.36. The company has a quick ratio of 8.02, a current ratio of 8.02 and a debt-to-equity ratio of 0.19.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its earnings results on Tuesday, May 13th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.08. During the same period in the previous year, the business earned ($0.25) earnings per share. Equities research analysts expect that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

Institutional Trading of Acumen Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in Acumen Pharmaceuticals in the first quarter worth approximately $46,000. ADAR1 Capital Management LLC boosted its holdings in shares of Acumen Pharmaceuticals by 55.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 146,183 shares of the company’s stock worth $161,000 after buying an additional 51,889 shares during the period. Nuveen LLC bought a new stake in shares of Acumen Pharmaceuticals during the 1st quarter worth $86,000. Invesco Ltd. boosted its holdings in shares of Acumen Pharmaceuticals by 544.1% during the 1st quarter. Invesco Ltd. now owns 127,798 shares of the company’s stock worth $141,000 after buying an additional 107,956 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in shares of Acumen Pharmaceuticals by 6.4% during the 4th quarter. Two Sigma Advisers LP now owns 499,100 shares of the company’s stock worth $858,000 after buying an additional 30,000 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, 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.