Virtu Financial LLC bought a new stake in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS – Get Rating) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,204 shares of the company's stock, valued at approximately $123,000. Virtu Financial LLC owned about 0.06% of Acumen Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. New York State Common Retirement Fund boosted its holdings in shares of Acumen Pharmaceuticals by 337.5% during the 1st quarter. New York State Common Retirement Fund now owns 23,981 shares of the company's stock worth $94,000 after buying an additional 18,500 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Acumen Pharmaceuticals during the 1st quarter worth approximately $221,000. JPMorgan Chase & Co. boosted its holdings in shares of Acumen Pharmaceuticals by 149.3% during the 1st quarter. JPMorgan Chase & Co. now owns 18,049 shares of the company's stock worth $71,000 after buying an additional 10,809 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Acumen Pharmaceuticals by 259.6% during the 1st quarter. Bank of New York Mellon Corp now owns 68,971 shares of the company's stock worth $270,000 after buying an additional 49,791 shares in the last quarter. Finally, Rhumbline Advisers bought a new position in shares of Acumen Pharmaceuticals during the 1st quarter worth approximately $79,000. 63.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ABOS shares. BTIG Research increased their target price on Acumen Pharmaceuticals from $15.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, October 5th. HC Wainwright reiterated a "buy" rating and issued a $15.00 target price on shares of Acumen Pharmaceuticals in a report on Tuesday, August 16th. Finally, Credit Suisse Group cut their target price on Acumen Pharmaceuticals from $17.00 to $16.00 and set an "outperform" rating on the stock in a report on Tuesday, November 15th.

Acumen Pharmaceuticals Price Performance

Acumen Pharmaceuticals (NASDAQ:ABOS – Get Rating) last released its quarterly earnings results on Monday, November 14th. The company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.01. On average, analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.01 earnings per share for the current year.

Acumen Pharmaceuticals Company Profile

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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.

Further Reading

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