Acumen Pharmaceuticals (NASDAQ:ABOS) Issues Earnings Results, Misses Estimates By $0.06 EPS

Acumen Pharmaceuticals (NASDAQ:ABOS) issued its quarterly earnings data on Tuesday. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06), Yahoo Finance reports. During the same quarter in the previous year, the business posted ($0.28) EPS.

Acumen Pharmaceuticals Price Performance

NASDAQ ABOS traded down $0.30 during trading hours on Wednesday, reaching $2.47. 139,406 shares of the stock traded hands, compared to its average volume of 384,029. The stock has a 50 day simple moving average of $2.70 and a two-hundred day simple moving average of $3.29. Acumen Pharmaceuticals has a 1 year low of $1.81 and a 1 year high of $7.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 30.20 and a quick ratio of 30.20. The company has a market cap of $148.40 million, a price-to-earnings ratio of -2.28 and a beta of 0.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup raised Acumen Pharmaceuticals to a “strong-buy” rating in a research report on Friday, July 26th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Acumen Pharmaceuticals in a research report on Wednesday.

About Acumen Pharmaceuticals

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for the treatment of Alzheimer's disease. The company focuses on advancing a targeted immunotherapy drug candidate ACU193, a humanized monoclonal antibody that is in Phase I clinical-stage to target soluble amyloid-beta oligomers.