Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Update

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Acumen Pharmaceuticals news, CEO Daniel Joseph Oconnell sold 47,778 shares of Acumen Pharmaceuticals 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 directly owns 454,707 shares of the company's stock, valued at $836,660.88. The trade was a 9.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matt Zuga sold 28,902 shares of the business's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total transaction of $49,711.44. Following the completion of the transaction, the chief financial officer now directly owns 231,744 shares in the company, valued at $398,599.68. This trade represents a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 131,526 shares of company stock worth $233,124. 7.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ABOS. SG Americas Securities LLC purchased a new stake in Acumen Pharmaceuticals in the 3rd quarter worth about $44,000. American Century Companies Inc. raised its holdings in shares of Acumen Pharmaceuticals by 31.3% during the second quarter. American Century Companies Inc. now owns 45,444 shares of the company's stock worth $110,000 after purchasing an additional 10,840 shares during the last quarter. Barclays PLC increased its holdings in Acumen Pharmaceuticals by 189.1% in the third quarter. Barclays PLC now owns 61,997 shares of the company's stock valued at $154,000 after buying an additional 40,551 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Acumen Pharmaceuticals by 252.8% in the third quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company's stock valued at $156,000 after purchasing an additional 45,189 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at about $818,000. Institutional investors own 71.01% of the company's stock.

Acumen Pharmaceuticals Trading Up 3.4 %

ABOS stock traded up $0.05 on Wednesday, reaching $1.53. The company's stock had a trading volume of 298,562 shares, compared to its average volume of 311,052. The business has a fifty day simple moving average of $1.84 and a two-hundred day simple moving average of $2.39. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.43 and a current ratio of 10.43. The firm has a market cap of $91.92 million and a PE ratio of -1.11. Acumen Pharmaceuticals has a 12-month low of $1.45 and a 12-month high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last released its quarterly earnings data 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 firm earned ($0.24) earnings per share. As a group, research analysts forecast that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

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.