Millennium Management LLC Has $4.73 Million Holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

Millennium Management LLC decreased its stake in shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 25.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,954,085 shares of the company’s stock after selling 675,456 shares during the period. Millennium Management LLC’s holdings in Acumen Pharmaceuticals were worth $4,729,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD bought a new stake in shares of Acumen Pharmaceuticals in the 1st quarter worth approximately $4,449,000. Susquehanna Fundamental Investments LLC acquired a new stake in Acumen Pharmaceuticals during the 1st quarter valued at $253,000. Renaissance Technologies LLC acquired a new stake in Acumen Pharmaceuticals during the 2nd quarter valued at $818,000. American Century Companies Inc. increased its holdings in Acumen Pharmaceuticals by 31.3% during the 2nd quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after purchasing an additional 10,840 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter valued at $127,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABOS. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Acumen Pharmaceuticals in a research report on Thursday, October 3rd. Citigroup upgraded Acumen Pharmaceuticals to a “strong-buy” rating in a report on Friday, July 26th. Finally, UBS Group reduced their target price on Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, August 15th.

Acumen Pharmaceuticals Stock Performance

Shares of Acumen Pharmaceuticals stock opened at $2.35 on Friday. The firm has a market cap of $141.19 million, a price-to-earnings ratio of -2.10 and a beta of 0.07. The stock’s 50-day moving average is $2.56 and its 200-day moving average is $2.93. Acumen Pharmaceuticals, Inc. has a one year low of $1.81 and a one year high of $5.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 17.37 and a quick ratio of 17.37.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its earnings results 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 quarter last year, the business earned ($0.28) earnings per share. Equities analysts predict that Acumen Pharmaceuticals, Inc. will post -1.32 earnings per share for the current fiscal year.

Acumen Pharmaceuticals Profile

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.