Citigroup initiated coverage on shares of Acumen Pharmaceuticals (NASDAQ:ABOS) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $4.00 price objective on the stock.\n\nOther equities research analysts have also issued research reports about the stock. UBS Group lowered their price target on shares of Acumen Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, March 28th. HC Wainwright lowered their price target on shares of Acumen Pharmaceuticals from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, March 28th.\n\nAcumen Pharmaceuticals (NASDAQ:ABOS) last announced its earnings results on Tuesday, May 13th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.08. During the same quarter in the prior year, the business posted ($0.25) EPS. As a group, sell-side analysts predict that Acumen Pharmaceuticals will post -1.56 EPS for the current year.\n\nSeveral institutional investors and hedge funds have recently bought and sold shares of ABOS. Susquehanna Fundamental Investments LLC bought a new stake in shares of Acumen Pharmaceuticals in the 4th quarter worth about $25,000. Clune & Associates LTD. bought a new stake in shares of Acumen Pharmaceuticals in the 4th quarter worth about $28,000. Intech Investment Management LLC bought a new stake in shares of Acumen Pharmaceuticals in the 4th quarter worth about $32,000. Tower Research Capital LLC TRC grew its holdings in shares of Acumen Pharmaceuticals by 427.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 20,624 shares of the company’s stock worth $35,000 after purchasing an additional 16,714 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Acumen Pharmaceuticals by 116.1% in the 4th quarter. Jane Street Group LLC now owns 30,740 shares of the company’s stock worth $53,000 after purchasing an additional 221,144 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.\n\nAcumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops targeted therapies for the treatment of Alzheimer’s disease. The company focuses on advancing a targeted immunotherapy drug candidate sabirnetug (ACU193), a recombinant humanized immunoglobulin gamma 2 that completed Phase I clinical trial to target soluble amyloid-beta oligomers.

Acumen Pharmaceuticals (NASDAQ:ABOS) Now Covered by Citigroup

Citigroup initiated coverage on Acumen Pharmaceuticals (NASDAQ:ABOS) with a buy rating and $4.00 price target. UBS Group and HC Wainwright also issued buy ratings with revised price targets. The company reported Q2 earnings of ($0.48) EPS, exceeding estimates, and analysts predict -1.56 EPS for the year. Institutional investors including Susquehanna, Clune, and Jane Street adjusted their holdings in the fourth quarter.