Acumen Pharmaceuticals (NASDAQ:ABOS) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Acumen Pharmaceuticals (NASDAQ:ABOS) from a hold rating to a sell rating in a report released on Saturday.

Other equities research analysts have also issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Friday, January 9th. Bank of America dropped their price target on shares of Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Finally, BTIG Research upped their price objective on shares of Acumen Pharmaceuticals from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Acumen Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $6.80.

Acumen Pharmaceuticals Stock Down 6.8%

Acumen Pharmaceuticals stock opened at $2.60 on Friday. The company has a current ratio of 6.02, a quick ratio of 6.02 and a debt-to-equity ratio of 0.29. Acumen Pharmaceuticals has a 1-year low of $0.86 and a 1-year high of $3.05. The firm’s fifty day simple moving average is $2.03 and its 200-day simple moving average is $1.77. The company has a market capitalization of $157.48 million, a P/E ratio of -1.17 and a beta of 0.23.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its earnings results on Wednesday, November 12th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.19. Sell-side analysts forecast that Acumen Pharmaceuticals will post -1.56 earnings per share for the current fiscal year.

Insider Transactions at Acumen Pharmaceuticals

In other news, CEO Daniel Joseph Oconnell sold 37,755 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $1.99, for a total transaction of $75,132.45. Following the transaction, the chief executive officer owned 619,982 shares in the company, valued at approximately $1,233,764.18. The trade was a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 149,818 shares of company stock valued at $285,057. Company insiders own 9.30% of the company’s stock.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. PFG Investments LLC raised its holdings in Acumen Pharmaceuticals by 65.2% in the 4th quarter. PFG Investments LLC now owns 19,000 shares of the company’s stock valued at $40,000 after acquiring an additional 7,500 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Acumen Pharmaceuticals during the third quarter valued at approximately $27,000. Marex Group plc acquired a new position in shares of Acumen Pharmaceuticals in the second quarter valued at $39,000. Qube Research & Technologies Ltd lifted its position in Acumen Pharmaceuticals by 160.0% in the second quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock worth $67,000 after purchasing an additional 35,424 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in Acumen Pharmaceuticals during the first quarter worth $46,000. 71.01% of the stock is owned by institutional investors and hedge funds.

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.