Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Sells $87,911.52 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 47,778 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $1.84, for a total transaction of $87,911.52. Following the completion of the sale, the chief executive officer now owns 454,707 shares of the company’s stock, valued at approximately $836,660.88. This trade represents a 9.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Acumen Pharmaceuticals Price Performance

Acumen Pharmaceuticals stock opened at $1.70 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43. The business has a 50 day simple moving average of $2.22 and a 200-day simple moving average of $2.50. Acumen Pharmaceuticals, Inc. has a 12 month low of $1.69 and a 12 month high of $5.09. The stock has a market capitalization of $102.14 million, a PE ratio of -1.23 and a beta of 0.02.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same quarter in the prior year, the business earned ($0.24) EPS. Equities analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Acumen Pharmaceuticals in a report on Wednesday, November 13th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Acumen Pharmaceuticals by 252.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company’s stock valued at $156,000 after purchasing an additional 45,189 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Acumen Pharmaceuticals by 5.4% in the third quarter. Franklin Resources Inc. now owns 3,549,069 shares of the company’s stock valued at $8,340,000 after buying an additional 181,451 shares in the last quarter. Barclays PLC grew its holdings in Acumen Pharmaceuticals by 189.1% during the third quarter. Barclays PLC now owns 61,997 shares of the company’s stock worth $154,000 after acquiring an additional 40,551 shares during the period. Geode Capital Management LLC grew its holdings in Acumen Pharmaceuticals by 6.5% during the third quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock worth $2,144,000 after acquiring an additional 52,395 shares during the period. Finally, State Street Corp raised its position in Acumen Pharmaceuticals by 18.3% in the third quarter. State Street Corp now owns 516,406 shares of the company’s stock worth $1,281,000 after acquiring an additional 79,841 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

About Acumen Pharmaceuticals

Acumen 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.