Acumen Pharmaceuticals Inc (NASDAQ: ABOS)’s stock price has gone decline by -5.42 in comparison to its previous close of 2.40, however, the company has experienced a -18.05% decrease in its stock price over the last five trading days. globenewswire.com reported 2024-09-03 that NEWTON, Mass., Sept. 03, 2024 (GLOBE NEWSWIRE) — Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS), a clinical-stage biopharmaceutical company developing a novel therapeutic that targets toxic soluble amyloid beta oligomers for the treatment of Alzheimer’s disease, announced today that management will participate in a fireside chat at the H.C. Wainwright 26th Annual Global Investor Conference on Tuesday, Sept. 10, 2024, at 1:30 p.m. ET.
Is It Worth Investing in Acumen Pharmaceuticals Inc (NASDAQ: ABOS) Right Now?
Additionally, the 36-month beta value for ABOS is 0.12. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 3 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for ABOS is 45.03M and currently, short sellers hold a 4.11% ratio of that float. The average trading volume of ABOS on September 06, 2024 was 425.76K shares.
ABOS’s Market Performance
ABOS’s stock has seen a -18.05% decrease for the week, with a -20.91% drop in the past month and a -12.02% fall in the past quarter. The volatility ratio for the week is 8.40%, and the volatility levels for the past 30 days are at 7.79% for Acumen Pharmaceuticals Inc The simple moving average for the past 20 days is -16.21% for ABOS’s stock, with a -29.61% simple moving average for the past 200 days.
Analysts’ Opinion of ABOS
Many brokerage firms have already submitted their reports for ABOS stocks, with Citigroup repeating the rating for ABOS by listing it as a “Buy.” The predicted price for ABOS in the upcoming period, according to Citigroup is $7 based on the research report published on July 26, 2024 of the current year 2024.
Deutsche Bank, on the other hand, stated in their research note that they expect to see ABOS reach a price target of $8. The rating they have provided for ABOS stocks is “Buy” according to the report published on December 12th, 2023.
BofA Securities gave a rating of “Buy” to ABOS, setting the target price at $14 in the report published on July 20th of the previous year.
ABOS Trading at -18.13% 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 -63.97% of loss for the given period.
Volatility was left at 7.79%, however, over the last 30 days, the volatility rate increased by 8.40%, as shares sank -14.66% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.07% upper at present.
During the last 5 trading sessions, ABOS fell by -18.05%, which changed the moving average for the period of 200-days by +1.34% in comparison to the 20-day moving average, which settled at $2.69. In addition, Acumen Pharmaceuticals Inc saw -40.89% 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 OConnell Daniel Joseph, who sale 15,200 shares at the price of $3.47 back on Jan 19 ’24. After this action, OConnell Daniel Joseph now owns 502,485 shares of Acumen Pharmaceuticals Inc, valued at $52,753 using the latest closing price.
Meisner Derek M, the Chief Legal Officer & Corp Sec of Acumen Pharmaceuticals Inc, sale 8,933 shares at $3.48 during a trade that took place back on Jan 19 ’24, which means that Meisner Derek M is holding 108,867 shares at $31,048 based on the most recent closing price.
Stock Fundamentals for ABOS
Current profitability levels for the company are sitting at:
- -264.41 for the present operating margin
- 0.42 for the gross margin
The net margin for Acumen Pharmaceuticals Inc stands at -223.67. The total capital return value is set at -0.28. Equity return is now at value -31.42, with -27.82 for asset returns.
Based on Acumen Pharmaceuticals Inc (ABOS), the company’s capital structure generated 0.1 points at debt to capital in total, while cash flow to debt ratio is standing at -1.97. The debt to equity ratio resting at 0.12. The interest coverage ratio of the stock is -131.08.
Currently, EBITDA for the company is -60.95 million with net debt to EBITDA at 0.52. When we switch over and look at the enterprise to sales, we see a ratio of 333.24. The receivables turnover for the company is 2.74for trailing twelve months and the total asset turnover is 0.0. The liquidity ratio also appears to be rather interesting for investors as it stands at 17.37.
Conclusion
In conclusion, Acumen Pharmaceuticals Inc (ABOS) has seen bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it 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.
