FY2029 Earnings Forecast for ABOS Issued By HC Wainwright

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) – HC Wainwright issued their FY2029 earnings estimates for shares of Acumen Pharmaceuticals in a research note issued on Friday, March 28th. HC Wainwright analyst A. Fein anticipates that the company will post earnings of ($2.03) per share for the year. HC Wainwright currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for Acumen Pharmaceuticals’ current full-year earnings is ($1.56) per share.

Separately, UBS Group lowered their target price on shares of Acumen Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday.

Acumen Pharmaceuticals Stock Performance

Shares of ABOS opened at $1.19 on Monday. Acumen Pharmaceuticals has a 12-month low of $1.10 and a 12-month high of $4.06. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. The company has a market cap of $71.50 million, a PE ratio of -0.86 and a beta of 0.02. The stock has a 50-day moving average price of $1.38 and a 200-day moving average price of $1.98.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its earnings results on Thursday, March 27th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.15).

Institutional Trading of Acumen Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in ABOS. Susquehanna Fundamental Investments LLC bought a new position in shares of Acumen Pharmaceuticals during the fourth quarter valued at about $25,000. Clune & Associates LTD. purchased a new stake in Acumen Pharmaceuticals during the 4th quarter valued at about $28,000. Intech Investment Management LLC bought a new position in Acumen Pharmaceuticals during the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC increased its stake in Acumen Pharmaceuticals by 427.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 20,624 shares of the company’s stock worth $35,000 after purchasing an additional 16,714 shares during the period. Finally, SG Americas Securities LLC lifted its position in Acumen Pharmaceuticals by 44.2% in the fourth quarter. SG Americas Securities LLC now owns 25,631 shares of the company’s stock valued at $44,000 after purchasing an additional 7,859 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Insider Activity at Acumen Pharmaceuticals

In related news, CEO Daniel Joseph Oconnell sold 47,778 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total value of $87,911.52. Following the completion of the sale, the chief executive officer now owns 454,707 shares in the company, valued at $836,660.88. The trade was a 9.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matt Zuga sold 28,902 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $1.72, for a total transaction of $49,711.44. Following the transaction, the chief financial officer now owns 231,744 shares in the company, valued at $398,599.68. The trade was a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,526 shares of company stock valued at $233,124 over the last 90 days. 7.10% of the stock is owned by insiders.

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.