Franklin Resources Inc. Has $5.63 Million Stake in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

Franklin Resources Inc. trimmed its holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Free Report) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,273,633 shares of the company's stock after selling 275,436 shares during the quarter. Franklin Resources Inc. owned 5.45% of Acumen Pharmaceuticals worth $5,631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC boosted its holdings in Acumen Pharmaceuticals by 0.3% in the 3rd 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 period. State Street Corp lifted its stake in shares of Acumen Pharmaceuticals by 18.3% in the third 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. Barclays PLC lifted its stake in shares of 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 during the period. Geode Capital Management LLC grew its position in Acumen Pharmaceuticals by 6.5% during 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. Finally, JPMorgan Chase & Co. raised its holdings in Acumen Pharmaceuticals by 252.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company's stock valued at $156,000 after acquiring an additional 45,189 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Acumen Pharmaceuticals Price Performance

NASDAQ ABOS traded down $0.02 during trading on Wednesday, reaching $1.04. 15,036 shares of the company traded hands, compared to its average volume of 290,613. Acumen Pharmaceuticals, Inc. has a 1-year low of $0.90 and a 1-year high of $3.92. The company has a market cap of $62.69 million, a price-to-earnings ratio of -0.75 and a beta of 0.10. The stock's 50 day moving average price is $1.22 and its two-hundred day moving average price is $1.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.43 and a current ratio of 10.43.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.15). As a group, analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Insider Activity

In other news, CFO Matt Zuga sold 28,902 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total value of $49,711.44. Following the transaction, the chief financial officer now directly owns 231,744 shares of the company's stock, valued at $398,599.68. The trade was a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 52,018 shares of company stock worth $86,568. Corporate insiders own 7.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABOS. UBS Group decreased their price objective on Acumen Pharmaceuticals from $6.00 to $4.00 and set a "buy" rating on the stock in a report on Friday, March 28th. HC Wainwright decreased their price target on shares of Acumen Pharmaceuticals from $15.00 to $11.00 and set a "buy" rating on the stock in a research note on Friday, March 28th.

About Acumen Pharmaceuticals

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.