State Street Corp Has $1.28 Million Holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

State Street Corp lifted its holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 18.3% during the third quarter, HoldingsChannel.com reports. The firm owned 516,406 shares of the company’s stock after purchasing an additional 79,841 shares during the period. State Street Corp’s holdings in Acumen Pharmaceuticals were worth $1,281,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in Acumen Pharmaceuticals by 0.3% during the third quarter. FMR LLC now owns 2,028,117 shares of the company’s stock valued at $5,030,000 after purchasing an additional 6,014 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter worth approximately $818,000. Bank of New York Mellon Corp acquired a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter valued at approximately $306,000. Murchinson Ltd. bought a new position in shares of Acumen Pharmaceuticals in the second quarter valued at $136,000. Finally, Rhumbline Advisers bought a new position in shares of Acumen Pharmaceuticals in the second quarter valued at $127,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Acumen Pharmaceuticals Trading Up 7.6 %

Acumen Pharmaceuticals stock opened at $1.85 on Friday. The stock has a 50-day simple moving average of $2.34 and a 200 day simple moving average of $2.52. The stock has a market capitalization of $111.15 million, a P/E ratio of -1.34 and a beta of -0.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.43 and a current ratio of 10.43. Acumen Pharmaceuticals, Inc. has a 52 week low of $1.69 and a 52 week high of $5.09.

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

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Acumen Pharmaceuticals in a research report on Wednesday, November 13th.

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.