Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Down 15.3% in April

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 1,050,000 shares, a decline of 15.3% from the March 31st total of 1,240,000 shares. Based on an average daily trading volume, of 341,300 shares, the short-interest ratio is presently 3.1 days. Approximately 2.4% of the shares of the stock are short sold.

Acumen Pharmaceuticals Price Performance

NASDAQ:ABOS opened at $3.17 on Friday. Acumen Pharmaceuticals has a 12 month low of $1.81 and a 12 month high of $11.31. The company’s 50-day moving average price is $3.86 and its two-hundred day moving average price is $3.35. The firm has a market cap of $190.45 million, a PE ratio of -2.91 and a beta of 0.08. The company has a quick ratio of 19.01, a current ratio of 19.01 and a debt-to-equity ratio of 0.11.

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

Hedge Funds Weigh In On Acumen Pharmaceuticals

Large investors have recently modified their holdings of the stock. Chicago Partners Investment Group LLC acquired a new position in shares of Acumen Pharmaceuticals during the third quarter worth approximately $56,000. Intrepid Financial Planning Group LLC lifted its position in shares of Acumen Pharmaceuticals by 49.6% during the third quarter. Intrepid Financial Planning Group LLC now owns 30,150 shares of the company’s stock worth $125,000 after purchasing an additional 10,000 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Acumen Pharmaceuticals during the third quarter worth approximately $141,000. Citigroup Inc. lifted its position in shares of Acumen Pharmaceuticals by 5,423.4% during the third quarter. Citigroup Inc. now owns 38,498 shares of the company’s stock worth $160,000 after purchasing an additional 37,801 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Acumen Pharmaceuticals during the third quarter worth approximately $167,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Acumen Pharmaceuticals in a research report on Wednesday, March 27th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Acumen Pharmaceuticals has an average rating of “Buy” and a consensus price target 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.