Murchinson Ltd. Acquires Shares of 56,250 Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

Murchinson Ltd. bought a new position in shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) during the second quarter, HoldingsChannel reports. The institutional investor bought 56,250 shares of the company’s stock, valued at approximately $136,000.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group lowered their price objective on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Citigroup raised shares of Acumen Pharmaceuticals to a “strong-buy” rating in a research report on Friday, July 26th. Finally, HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Acumen Pharmaceuticals in a report on Wednesday, August 14th.

Acumen Pharmaceuticals Price Performance

ABOS opened at $2.48 on Friday. The firm has a market capitalization of $149.00 million, a PE ratio of -2.34 and a beta of 0.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 17.37 and a quick ratio of 17.37. The business’s 50-day moving average is $2.75 and its two-hundred day moving average is $3.05. Acumen Pharmaceuticals, Inc. has a 1 year low of $1.81 and a 1 year high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). During the same period in the previous year, the firm earned ($0.28) EPS. Research analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.32 earnings per share for the current fiscal year.

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.