and a 36-month beta value of -0.57. Opinions on the stock are mixed, with 6 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The average price predicted for Acumen Pharmaceuticals Inc (ABOS) by analysts is $16.00, which is $13.63 above the current market price. The public float for ABOS is 44.11M, and at present, short sellers hold a 1.81% of that float. On November 16, 2023, the average trading volume of ABOS was 461.20K shares.
ABOS) stock’s latest price update
The stock price of Acumen Pharmaceuticals Inc (NASDAQ: ABOS) has jumped by 11.27 compared to previous close of 2.13. Despite this, the company has seen a gain of 16.18% in its stock price over the last five trading days. GlobeNewsWire reported 2023-10-04 that CHARLOTTESVILLE, Va. and INDIANAPOLIS, Oct. 04, 2023 (GLOBE NEWSWIRE) — Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS), a clinical-stage biopharmaceutical company developing a novel therapeutic that targets soluble amyloid beta oligomers (AβOs) for the treatment of Alzheimer’s disease (AD), today announced that it will present deeper insights and new exploratory findings from its Phase 1 INTERCEPT-AD trial evaluating ACU193, the first clinical-stage AβO-directed antibody therapy for early AD, at the 16th Annual Clinical Trials on Alzheimer’s Disease (CTAD) conference taking place in Boston and online from October 24-27, 2023. INTERCEPT-AD was selected to be featured in a symposium on Friday, October 27, and data from exploratory analyses of the Phase 1 trial will also be shared in two in-person and two virtual poster presentations.
ABOS’s Market Performance
ABOS’s stock has risen by 16.18% in the past week, with a monthly drop of -38.28% and a quarterly drop of -62.97%. The volatility ratio for the week is 10.30% while the volatility levels for the last 30 days are 11.12% for Acumen Pharmaceuticals Inc The simple moving average for the last 20 days is -6.03% for ABOS’s stock, with a simple moving average of -52.68% for the last 200 days.
Analysts’ Opinion of ABOS
Many brokerage firms have already submitted their reports for ABOS stocks, with BofA Securities repeating the rating for ABOS by listing it as a “Buy.” The predicted price for ABOS in the upcoming period, according to BofA Securities is $14 based on the research report published on July 20, 2023 of the current year 2023.
ABOS Trading at -37.60% from the 50-Day Moving Average
After a stumble in the market that brought ABOS to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -79.04% of loss for the given period.
Volatility was left at 11.12%, however, over the last 30 days, the volatility rate increased by 10.30%, as shares sank -33.71% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -60.03% lower at present.
During the last 5 trading sessions, ABOS rose by +16.18%, which changed the moving average for the period of 200-days by -63.93% in comparison to the 20-day moving average, which settled at $2.46. In addition, Acumen Pharmaceuticals Inc saw -56.11% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ABOS starting from Ives Jeffrey L., who sale 41,949 shares at the price of $6.49 back on Aug 17. After this action, Ives Jeffrey L. now owns 0 shares of Acumen Pharmaceuticals Inc, valued at $272,334 using the latest closing price.
RA CAPITAL MANAGEMENT, L.P., the Director of Acumen Pharmaceuticals Inc, purchase 5,161,290 shares at $7.75 during a trade that took place back on Jul 21, which means that RA CAPITAL MANAGEMENT, L.P. is holding 13,043,179 shares at $39,999,998 based on the most recent closing price.
Stock Fundamentals for ABOS
The total capital return value is set at -21.85, while invested capital returns managed to touch -20.71. Equity return is now at value -20.44, with -19.91 for asset returns.
Based on Acumen Pharmaceuticals Inc (ABOS), the company’s capital structure generated 0.06 points at debt to equity in total, while total debt to capital is 0.06.
The liquidity ratio also appears to be rather interesting for investors as it stands at 23.08.
Conclusion
To sum up, Acumen Pharmaceuticals Inc (ABOS) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
