UBS Group Issues Pessimistic Forecast for Acumen Pharmaceuticals (NASDAQ:ABOS) Stock Price

Acumen Pharmaceuticals (NASDAQ:ABOS) had its price objective dropped by research analysts at UBS Group from $6.00 to $4.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 238.98% from the company’s current price.

Separately, HC Wainwright lowered their target price on shares of Acumen Pharmaceuticals from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday.

Acumen Pharmaceuticals Stock Performance

Acumen Pharmaceuticals stock opened at $1.18 on Friday. The firm’s 50 day simple moving average is $1.39 and its 200 day simple moving average is $2.00. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. Acumen Pharmaceuticals has a 1-year low of $1.10 and a 1-year high of $4.28. The firm has a market capitalization of $70.89 million, a PE ratio of -0.86 and a beta of 0.02.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.15). As a group, analysts expect that Acumen Pharmaceuticals will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Acumen Pharmaceuticals

In other Acumen Pharmaceuticals news, CFO Matt Zuga sold 28,902 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $1.72, for a total transaction of $49,711.44. Following the completion of the sale, the chief financial officer now directly owns 231,744 shares of the company’s stock, valued at approximately $398,599.68. This represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Joseph Oconnell sold 47,778 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $1.84, for a total value of $87,911.52. Following the transaction, the chief executive officer now owns 454,707 shares of the company’s stock, valued at approximately $836,660.88. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,526 shares of company stock worth $233,124. 7.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Two Sigma Advisers LP grew its position in shares of Acumen Pharmaceuticals by 6.4% during the fourth quarter. Two Sigma Advisers LP now owns 499,100 shares of the company’s stock valued at $858,000 after purchasing an additional 30,000 shares in the last quarter. Deutsche Bank AG grew its holdings in Acumen Pharmaceuticals by 468.7% during the 4th quarter. Deutsche Bank AG now owns 96,995 shares of the company’s stock valued at $167,000 after buying an additional 79,940 shares in the last quarter. Bank of America Corp DE increased its stake in Acumen Pharmaceuticals by 7.2% in the 4th quarter. Bank of America Corp DE now owns 148,668 shares of the company’s stock worth $256,000 after acquiring an additional 9,944 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Acumen Pharmaceuticals by 116.1% during the 4th quarter. Jane Street Group LLC now owns 30,740 shares of the company’s stock worth $53,000 after acquiring an additional 221,144 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Acumen Pharmaceuticals during the 4th quarter valued at approximately $25,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

About Acumen Pharmaceuticals

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.