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

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the target of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,390,000 shares, a decrease of 5.4% from the November 15th total of 1,470,000 shares. Currently, 3.1% of the shares of the company are short sold. Based on an average daily trading volume, of 202,200 shares, the short-interest ratio is currently 6.9 days.

Acumen Pharmaceuticals Trading Down 0.5 %

Shares of ABOS opened at $1.96 on Wednesday. Acumen Pharmaceuticals has a fifty-two week low of $1.91 and a fifty-two week high of $5.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.43 and a current ratio of 10.43. The company’s fifty day moving average is $2.51 and its 200 day moving average is $2.59. The stock has a market capitalization of $117.76 million, a PE ratio of -1.42 and a beta of -0.07.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same quarter in the previous year, the firm posted ($0.24) EPS. Sell-side analysts expect that Acumen Pharmaceuticals will post -1.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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, November 13th.

Hedge Funds Weigh In On Acumen Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ABOS. SG Americas Securities LLC bought a new stake in Acumen Pharmaceuticals in the third quarter worth $44,000. 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 worth $110,000 after acquiring an additional 10,840 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth about $127,000. Murchinson Ltd. purchased a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth about $136,000. Finally, Barclays PLC grew its holdings in Acumen Pharmaceuticals by 189.1% during the 3rd quarter. Barclays PLC now owns 61,997 shares of the company’s stock valued at $154,000 after purchasing an additional 40,551 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Acumen Pharmaceuticals Company Profile

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.