Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Sees Significant Decrease in Short Interest

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOSGet Free Report) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 926,900 shares, a decline of 11.7% from the April 15th total of 1,050,000 shares. Based on an average trading volume of 320,100 shares, the days-to-cover ratio is presently 2.9 days. Currently, 2.1% of the company’s shares are sold short.

Acumen Pharmaceuticals Price Performance

Acumen Pharmaceuticals stock opened at $3.36 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 19.01 and a quick ratio of 19.01. The company’s 50 day simple moving average is $3.76 and its 200-day simple moving average is $3.33. Acumen Pharmaceuticals has a 1 year low of $1.81 and a 1 year high of $11.31.

Acumen Pharmaceuticals (NASDAQ:ABOSGet Free Report) last released its quarterly earnings results on Tuesday, March 26th. The company reported ($0.29) EPS for the quarter, hitting analysts’ consensus estimates of ($0.29). Equities research analysts forecast that Acumen Pharmaceuticals will post -1.22 EPS for the current year.

Institutional Trading of Acumen Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. grew its stake in shares of Acumen Pharmaceuticals by 52.8% in the third quarter. RA Capital Management L.P. now owns 14,932,063 shares of the company’s stock worth $61,968,000 after acquiring an additional 5,161,290 shares in the last quarter. Rock Springs Capital Management LP purchased a new position in Acumen Pharmaceuticals in the third quarter valued at $11,672,000. Knollwood Investment Advisory LLC acquired a new position in Acumen Pharmaceuticals during the 3rd quarter worth $6,758,000. Laurion Capital Management LP increased its holdings in Acumen Pharmaceuticals by 57.1% during the 3rd quarter. Laurion Capital Management LP now owns 1,895,023 shares of the company’s stock worth $7,864,000 after purchasing an additional 688,475 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Acumen Pharmaceuticals during the 3rd quarter worth about $2,677,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Acumen Pharmaceuticals in a research note on Wednesday, March 27th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $12.25.

View Our Latest Report on ABOS

About Acumen Pharmaceuticals

(Get Free Report)

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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