During December, there was a sizeable drop in the number of short positions held in Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS). As of December 30th, 571,700 shares were borrowed, a decrease of 34.7% compared to the 875,700 shares that were borrowed on December 15th. The current short-interest ratio is 4.0 days, which can be calculated based on the fact that an average of 142,800 shares are traded daily. In other words, the current short-interest ratio is appropriate for market conditions. At this time, short positions make up 2.0% of the total number of shares in circulation for the stock.
On November 14th, a Monday, Acumen Pharmaceuticals released its most recent quarterly earnings report, which can be found on its website under the ticker symbol “ABOS.” It was widely anticipated that the company would report earnings per share (EPS) of $0.27. Still, the actual earnings reported by the company were $0.26, which is $0.01 better than the projection. The research analysts who follow Acumen Pharmaceuticals predict that the company will earn 1.02 cents per share during the current fiscal year. This information comes from the company’s financial filings.
On Thursday, the share price of ABOS stock was set at $5.90 when trading began.
The stock is currently trading $5.78 above its 50-day simple moving average and $6.17 above its 200-day simple moving average. Over the last year and a half, the price of Acumen Pharmaceuticals has fluctuated widely, going from $3.02 to $10.97 at its highest point.
Recent reports concerning ABOS have been written and distributed by several different research companies. On Wednesday, October 5th, BTIG Research published a note that increased their price objective for Acumen Pharmaceuticals from $15.00 to $22.00 and rated the stock as a “buy.” BTIG Research also gave the stock a “buy” rating. In a research note published on November 15th, Credit Suisse Group announced that they were downgrading Acumen Pharmaceuticals from an “outperform” rating to a “neutral” rating and lowering their price objective for the company from $17.00 to $16.00. Both of these changes were made.
In the most recent few months, several hedge funds and institutional investors have either increased the amount of ABOS stock they hold or decreased the amount of money they have invested in the company. Through the course of the third quarter, Commodore Capital LP was able to strengthen its holdings in Acumen Pharmaceuticals by increasing its share count through the purchase of additional shares for close to $11,033,000. Within the first three months of 2018, BlackRock Inc. increased the amount of Acumen Pharmaceuticals stock owned by 23.2%. BlackRock Inc. now holds 3,831,321 shares of the company’s stock, valued at $14,980,000, after purchasing an additional 721,651 shares during the period in question. BlackRock Inc. The ownership stake that Vanguard Group Inc. held in Acumen Pharmaceuticals grew by 122.5% during the first three months of 2018. As a result of the company’s acquisition of an additional 679,798 shares over time, Vanguard Group Inc. is now the owner of 1,234,771 shares in the company. These shares have an estimated value of $4,828,000 at present. During the second quarter, Millennium Management LLC spent approximately $2,762,000 to acquire additional shares of Acumen Pharmaceuticals to increase its existing stake in the company. Last but certainly not least, Laurion Capital Management LP increased the percentage of Acumen Pharmaceuticals that it owned by 83.7% during the second quarter. This certainly should not be considered the least important item. Laurion Capital Management LP now owns 1,206,548 shares of the company’s stock, currently valued at $5,671,000.