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

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) CEO Daniel Joseph Oconnell sold 47,778 shares of the firm'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 transaction, the chief executive officer now owns 454,707 shares in the company, valued at $836,660.88. This represents a 9.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Acumen Pharmaceuticals Stock Performance

Acumen Pharmaceuticals stock traded down $0.02 during trading hours on Tuesday, reaching $1.83. 184,478 shares of the company were exchanged, compared to its average volume of 247,994. Acumen Pharmaceuticals, Inc. has a 12 month low of $1.69 and a 12 month high of $5.09. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average of $2.27 and a 200 day moving average of $2.52. The firm has a market cap of $109.95 million, a price-to-earnings ratio of -1.33 and a beta of 0.02.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last posted 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 period last year, the company earned ($0.24) EPS. As a group, research analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ABOS. FMR LLC increased its holdings in shares of Acumen Pharmaceuticals by 0.3% during the 3rd quarter. FMR LLC now owns 2,028,117 shares of the company's stock worth $5,030,000 after purchasing an additional 6,014 shares during the period. American Century Companies Inc. raised its holdings 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 acquiring an additional 10,840 shares in the last quarter. SG Americas Securities LLC acquired a new position in Acumen Pharmaceuticals in the 3rd quarter valued at approximately $44,000. Barclays PLC raised its holdings in Acumen Pharmaceuticals by 189.1% in the 3rd quarter. Barclays PLC now owns 61,997 shares of the company's stock valued at $154,000 after acquiring an additional 40,551 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Acumen Pharmaceuticals by 252.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company's stock worth $156,000 after acquiring an additional 45,189 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Acumen Pharmaceuticals Company Profile

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.

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