Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Down 8.6% in August

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 1,690,000 shares, a decrease of 8.6% from the August 15th total of 1,850,000 shares. Currently, 3.8% of the shares of the stock are short sold. Based on an average daily volume of 402,900 shares, the short-interest ratio is presently 4.2 days.

Acumen Pharmaceuticals Price Performance

Shares of ABOS opened at $2.44 on Thursday. The firm has a 50-day simple moving average of $2.81 and a two-hundred day simple moving average of $3.15. The stock has a market cap of $146.60 million, a PE ratio of -2.30 and a beta of 0.09. Acumen Pharmaceuticals has a 1-year low of $1.81 and a 1-year high of $5.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 17.37 and a quick ratio of 17.37.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.06). During the same period in the previous year, the business earned ($0.28) earnings per share. As a group, analysts forecast that Acumen Pharmaceuticals will post -1.32 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Gladius Capital Management LP acquired a new stake in Acumen Pharmaceuticals in the 2nd quarter valued at about $26,000. SG Americas Securities LLC purchased a new position in shares of Acumen Pharmaceuticals in the 1st quarter valued at approximately $52,000. Chicago Partners Investment Group LLC increased its stake in shares of Acumen Pharmaceuticals by 34.9% during the fourth quarter. Chicago Partners Investment Group LLC now owns 18,315 shares of the company’s stock worth $70,000 after acquiring an additional 4,736 shares during the period. American Century Companies Inc. lifted its holdings in shares of Acumen Pharmaceuticals by 31.3% in the 2nd quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after buying an additional 10,840 shares during the period. Finally, Rhumbline Advisers acquired a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at about $127,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

ABOS has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Acumen Pharmaceuticals in a research report on Wednesday, August 14th. UBS Group reduced their price target on Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Citigroup raised shares of Acumen Pharmaceuticals to a “strong-buy” rating in a report on Friday, July 26th.

About Acumen Pharmaceuticals

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.