Acumen Pharmaceuticals (NASDAQ:ABOS) Releases Earnings Results, Misses Expectations By $0.06 EPS

Acumen Pharmaceuticals (NASDAQ:ABOS) announced its earnings results 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 prior year, the company earned ($0.28) EPS.

Acumen Pharmaceuticals Price Performance

Acumen Pharmaceuticals stock traded down $0.34 during trading hours on Wednesday, reaching $2.43. 118,490 shares of the stock were exchanged, compared to its average volume of 383,895. The company has a current ratio of 30.20, a quick ratio of 30.20 and a debt-to-equity ratio of 0.12. Acumen Pharmaceuticals has a twelve month low of $1.81 and a twelve month high of $7.25. The company has a market cap of $145.99 million, a P/E ratio of -2.28 and a beta of 0.11. The stock has a 50 day moving average of $2.70 and a two-hundred day moving average of $3.29.

Analyst Upgrades and Downgrades

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