Eric Siemers Sells 10,859 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) insider Eric Siemers sold 10,859 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $1.85, for a total transaction of $20,089.15. Following the sale, the insider now owns 106,717 shares in the company, valued at approximately $197,426.45. This trade represents a 9.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Acumen Pharmaceuticals Stock Down 7.1 %

Acumen Pharmaceuticals stock 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 50-day simple moving average of $2.22 and a 200-day simple moving average of $2.50. Acumen Pharmaceuticals, Inc. has a one year low of $1.69 and a one year high of $5.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.43 and a current ratio of 10.43.

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

Institutional Trading of Acumen Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Acumen Pharmaceuticals in the third quarter worth $44,000. American Century Companies Inc. grew its position in Acumen Pharmaceuticals by 31.3% in the 2nd quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after buying an additional 10,840 shares in the last quarter. Rhumbline Advisers acquired a new position in Acumen Pharmaceuticals during the 2nd quarter valued at about $127,000. Murchinson Ltd. bought a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter worth about $136,000. Finally, Barclays PLC lifted its stake in shares of Acumen Pharmaceuticals by 189.1% in the 3rd 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. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

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

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.