Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Down 5.4% in November

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,390,000 shares, a decrease of 5.4% from the November 15th total of 1,470,000 shares. Based on an average daily volume of 202,200 shares, the days-to-cover ratio is presently 6.9 days. Currently, 3.1% of the shares of the company are short sold.

Analyst Ratings Changes

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.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Acumen Pharmaceuticals during the 3rd quarter valued at about $44,000. American Century Companies Inc. boosted its holdings in shares of 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 during the last quarter. Rhumbline Advisers bought a new position in shares of Acumen Pharmaceuticals during the 2nd quarter valued at about $127,000. Murchinson Ltd. bought a new position in shares of Acumen Pharmaceuticals during the 2nd quarter valued at about $136,000. Finally, Barclays PLC boosted its holdings in shares of Acumen Pharmaceuticals by 189.1% during the 3rd quarter. Barclays PLC now owns 61,997 shares of the company’s stock valued at $154,000 after purchasing an additional 40,551 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Acumen Pharmaceuticals Trading Down 3.0 %

Shares of Acumen Pharmaceuticals stock opened at $1.97 on Tuesday. The company has a market capitalization of $118.36 million, a P/E ratio of -1.43 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. The company has a fifty day moving average of $2.52 and a 200 day moving average of $2.60. Acumen Pharmaceuticals has a fifty-two week low of $1.92 and a fifty-two week high of $5.09.

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

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.