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

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) insider Eric Siemers sold 10,859 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $1.85, for a total value of $20,089.15. Following the completion of the transaction, the insider now directly owns 106,717 shares in the company, valued at $197,426.45. This trade represents a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Acumen Pharmaceuticals Price Performance

NASDAQ ABOS traded down $0.02 during trading on Tuesday, hitting $1.83. 184,478 shares of the stock traded hands, 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 quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $2.27 and a 200-day simple moving average of $2.52. The company has a market capitalization of $109.95 million, a P/E ratio of -1.33 and a beta of 0.02.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.14). During the same period in the previous year, the firm earned ($0.24) EPS. As a group, analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Analyst Ratings Changes

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

Institutional Trading of Acumen Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in 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 purchasing an additional 181,451 shares during the last quarter. FMR LLC boosted its holdings in Acumen Pharmaceuticals by 0.3% in the third quarter. FMR LLC now owns 2,028,117 shares of the company's stock valued at $5,030,000 after purchasing an additional 6,014 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Acumen Pharmaceuticals by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 864,528 shares of the company's stock valued at $2,144,000 after buying an additional 52,395 shares during the last quarter. State Street Corp lifted its holdings in shares of 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 buying an additional 79,841 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Acumen Pharmaceuticals in the second quarter worth about $818,000. 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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