Short Interest in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Expands By 9.1%

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,560,000 shares, a growth of 9.1% from the December 15th total of 1,430,000 shares. Based on an average daily trading volume, of 276,000 shares, the short-interest ratio is presently 5.7 days. Approximately 3.5% of the shares of the company are short sold.

Acumen Pharmaceuticals Stock Performance

Shares of NASDAQ:ABOS traded up $0.04 during mid-day trading on Friday, reaching $1.65. The company had a trading volume of 547,063 shares, compared to its average volume of 337,461. 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 firm has a market cap of $99.13 million, a price-to-earnings ratio of -1.20 and a beta of 0.02. The company's 50-day moving average price is $2.05 and its 200-day moving average price is $2.48. Acumen Pharmaceuticals has a one year low of $1.53 and a one year high of $5.09.

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

Wall Street Analyst Weigh In

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.

Insider Transactions at Acumen Pharmaceuticals

In other news, CEO Daniel Joseph Oconnell sold 47,778 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total value of $87,911.52. Following the transaction, the chief executive officer now owns 454,707 shares in the company, valued at $836,660.88. The trade was a 9.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 79,508 shares of company stock worth $146,556 in the last 90 days. Insiders own 7.10% of the company's stock.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 52,395 shares during the period. State Street Corp raised its holdings in Acumen Pharmaceuticals by 18.3% during 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 during the period. Renaissance Technologies LLC bought a new stake in Acumen Pharmaceuticals during the 2nd quarter valued at $818,000. Barclays PLC raised its holdings in Acumen Pharmaceuticals by 189.1% during 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 during the period. Finally, FMR LLC raised its holdings in Acumen Pharmaceuticals by 0.3% during the 3rd 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 during the period. Institutional investors own 71.01% of the company's stock.

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.