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Biotechnology
ACST represents Acumen Pharmaceuticals, a clinical-stage biotechnology company that develops novel therapeutic treatments for Alzheimer's disease.
Acumen Pharmaceuticals Inc. is a pre-commercial stage biotech company aiming to develop disease-modifying therapies for Alzheimer's disease. It concentrates on developing something that targets the precise epitope of Aβ peptides. By selectively binding to N-terminus Aβ, its lead candidate, ACU193, displays an affinity for Aβ oligomers.
The company's pipeline includes:
* ACU193: Developed to treat early Alzheimer's disease by stopping Aβ strains in their tracks and eliminating themselves.
* ACU324: This is the backup for ACU193.
* ACU234: This is the backup for ACU193. It uses a different strategy to battle Aβ.
The statistics for the firm aren't necessarily bright. While the company doesn't have any products on the market, neither Wall Street nor Main Street seems to be waiting for its technology to be successful. The business is rated a "hold" by analysts, and short-sellers constitute 12.6% of Acumen Pharmaceuticals' float.
Wall Street analysts don't anticipate Acumen Pharmaceuticals will succeed anytime soon since they project losses of $1.90 and $3.44 per share in 2023 and 2024, respectively. The stock trades at a price-to-book ratio of 5.6, even though that is more than double its book value. The sector's average price-to-earnings ratio is around 21.
Wall Street research analysts have assigned ACST a "hold" rating. Among the research analysts tracking the company's stock, none recommends a "strong buy," three suggest a "buy," and 43 have issued a "hold" rating. Zero research analysts suggest a "strong sell."
As of April 2022, the company had raised $183.5 million from selling shares. Since its IPO on November 23, 2020, its stock bounced from $16 to $40 within two days of trading. The volatility died, and the stock has been falling steadily since it reached its highest point, $68.48, on December 29, 2020. Since the IPO, it has fallen 86.4%, and 57.4% in the last year alone.
Reports show that the company has 31.93 million shares outstanding, and 100% of its shares are held by institutional investors.
Insiders own 20% of the business, while institutions own 84% of it.
The information provided gives a broad overview of Acumen Pharmaceuticals Inc. (ACST), though it might not be current. We advise conducting more research and obtaining the most recent information before making any investment decisions.