HC Wainwright Brokers Decrease Earnings Estimates for ABOS

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) – HC Wainwright reduced their FY2024 earnings per share (EPS) estimates for Acumen Pharmaceuticals in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst A. Fein now expects that the company will post earnings of ($1.46) per share for the year, down from their prior forecast of ($1.01). HC Wainwright has a “Buy” rating and a $15.00 price objective on the stock. The consensus estimate for Acumen Pharmaceuticals’ current full-year earnings is ($1.56) per share. HC Wainwright also issued estimates for Acumen Pharmaceuticals’ Q4 2024 earnings at ($0.37) EPS, FY2025 earnings at ($1.55) EPS, FY2026 earnings at ($1.80) EPS, FY2027 earnings at ($1.96) EPS and FY2028 earnings at ($1.82) EPS.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings data 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) earnings per share.

Several other research analysts have also commented on ABOS. 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 upgraded shares of Acumen Pharmaceuticals to a “strong-buy” rating in a report on Friday, July 26th.

Acumen Pharmaceuticals Stock Performance

NASDAQ ABOS opened at $2.24 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 17.37. The company has a market cap of $134.58 million, a P/E ratio of -1.62 and a beta of 0.04. The stock has a 50-day moving average of $2.61 and a two-hundred day moving average of $2.78. Acumen Pharmaceuticals has a 1-year low of $2.08 and a 1-year high of $5.09.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Acumen Pharmaceuticals by 6.5% during the third quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock worth $2,144,000 after buying an additional 52,395 shares during the period. 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 worth $154,000 after acquiring an additional 40,551 shares in the last quarter. State Street Corp increased its position in shares of Acumen Pharmaceuticals by 18.3% in the 3rd quarter. State Street Corp now owns 516,406 shares of the company’s stock valued at $1,281,000 after purchasing an additional 79,841 shares during the last quarter. FMR LLC raised its holdings in shares of Acumen Pharmaceuticals by 0.3% in the 3rd 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Acumen Pharmaceuticals in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Acumen Pharmaceuticals

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.