Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Update

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 1,050,000 shares, a decrease of 15.3% from the March 31st total of 1,240,000 shares. Based on an average daily volume of 341,300 shares, the days-to-cover ratio is currently 3.1 days. Approximately 2.4% of the company’s stock are short sold.

Acumen Pharmaceuticals Trading Up 0.3 %

Acumen Pharmaceuticals stock opened at $3.18 on Tuesday. The stock has a 50-day moving average of $3.85 and a two-hundred day moving average of $3.34. The company has a debt-to-equity ratio of 0.11, a quick ratio of 19.01 and a current ratio of 19.01. Acumen Pharmaceuticals has a one year low of $1.81 and a one year high of $11.31. The stock has a market cap of $191.05 million, a PE ratio of -2.92 and a beta of 0.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings results on Tuesday, March 26th. The company reported ($0.29) EPS for the quarter, meeting analysts’ consensus estimates of ($0.29). On average, research analysts anticipate that Acumen Pharmaceuticals will post -1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC raised its stake in Acumen Pharmaceuticals by 34.9% in the fourth quarter. Chicago Partners Investment Group LLC now owns 18,315 shares of the company’s stock valued at $70,000 after buying an additional 4,736 shares during the last quarter. Parkman Healthcare Partners LLC increased its holdings in shares of Acumen Pharmaceuticals by 20.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 603,497 shares of the company’s stock valued at $2,317,000 after purchasing an additional 103,683 shares during the period. Franklin Resources Inc. increased its holdings in shares of Acumen Pharmaceuticals by 18.3% in the fourth quarter. Franklin Resources Inc. now owns 3,358,809 shares of the company’s stock valued at $12,898,000 after purchasing an additional 520,044 shares during the period. Jump Financial LLC increased its holdings in shares of Acumen Pharmaceuticals by 203.8% in the fourth quarter. Jump Financial LLC now owns 103,000 shares of the company’s stock valued at $396,000 after purchasing an additional 69,100 shares during the period. Finally, Hudson Bay Capital Management LP increased its holdings in shares of Acumen Pharmaceuticals by 32.9% in the third quarter. Hudson Bay Capital Management LP now owns 525,000 shares of the company’s stock valued at $2,179,000 after purchasing an additional 130,000 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.