Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS – Get Free Report) 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 – Get Free Report) 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
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.
Get Our Latest Stock Analysis on Acumen Pharmaceuticals
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.
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