Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) COO Sells 7,636 Shares

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) COO Russell Barton sold 7,636 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $1.86, for a total transaction of $14,202.96. Following the completion of the transaction, the chief operating officer now directly owns 89,231 shares in the company, valued at $165,969.66. This trade represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Acumen Pharmaceuticals Price Performance

Shares of ABOS stock traded down $0.02 during trading hours on Tuesday, reaching $1.83. The stock had a trading volume of 184,478 shares, compared to its average volume of 247,994. The firm has a market capitalization of $109.95 million, a PE ratio of -1.33 and a beta of 0.02. Acumen Pharmaceuticals, Inc. has a 12 month low of $1.69 and a 12 month high of $5.09. The stock's fifty day simple moving average is $2.27 and its 200 day simple moving average is $2.52. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last announced its quarterly earnings data 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 in the prior year, the firm earned ($0.24) EPS. On average, equities research analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in shares of Acumen Pharmaceuticals by 5.4% during the third quarter. Franklin Resources Inc. now owns 3,549,069 shares of the company's stock valued at $8,340,000 after purchasing an additional 181,451 shares in the last quarter. FMR LLC increased its holdings in shares of Acumen Pharmaceuticals by 0.3% during the third quarter. FMR LLC now owns 2,028,117 shares of the company's stock valued at $5,030,000 after acquiring an additional 6,014 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Acumen Pharmaceuticals by 6.5% in the third quarter. Geode Capital Management LLC now owns 864,528 shares of the company's stock worth $2,144,000 after buying an additional 52,395 shares in the last quarter. State Street Corp lifted its position in Acumen Pharmaceuticals by 18.3% in the 3rd quarter. State Street Corp now owns 516,406 shares of the company's stock valued at $1,281,000 after acquiring an additional 79,841 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Acumen Pharmaceuticals during the second quarter valued at $818,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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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