Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) COO Sells $14,202.96 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) COO Russell Barton sold 7,636 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $1.86, for a total transaction of $14,202.96. Following the transaction, the chief operating officer now owns 89,231 shares in the company, valued at $165,969.66. This represents a 7.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Acumen Pharmaceuticals Stock Performance

Shares of ABOS opened at $1.70 on Friday. The firm has a market capitalization of $102.14 million, a P/E ratio of -1.23 and a beta of 0.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43. Acumen Pharmaceuticals, Inc. has a one year low of $1.69 and a one year high of $5.09. The business has a fifty day moving average of $2.22 and a 200 day moving average of $2.50.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same quarter last year, the company posted ($0.24) earnings per share. As a group, sell-side analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Acumen Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new position in Acumen Pharmaceuticals in the second quarter worth approximately $818,000. Franklin Resources Inc. increased its stake in shares of Acumen Pharmaceuticals by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 3,549,069 shares of the company’s stock worth $8,340,000 after purchasing an additional 181,451 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Acumen Pharmaceuticals during the second quarter valued at $306,000. State Street Corp grew its holdings in Acumen Pharmaceuticals by 18.3% during the third quarter. State Street Corp now owns 516,406 shares of the company’s stock valued at $1,281,000 after purchasing an additional 79,841 shares during the period. Finally, Murchinson Ltd. bought a new stake in Acumen Pharmaceuticals during the second quarter valued at about $136,000. 71.01% of the stock is currently owned by 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.