Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) COO Sells $14,202.96 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) COO Russell Barton sold 7,636 shares of Acumen Pharmaceuticals stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $1.86, for a total transaction of $14,202.96. Following the transaction, the chief operating officer now owns 89,231 shares in the company, valued at $165,969.66. This represents a 7.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Acumen Pharmaceuticals Price Performance

ABOS traded down $0.02 during trading hours on Tuesday, hitting $1.83. The company’s stock had a trading volume of 184,478 shares, 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 current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $2.27 and its 200-day moving average price is $2.52. The stock has a market cap of $109.95 million, a price-to-earnings ratio of -1.33 and a beta of 0.02.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its quarterly earnings results 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 company posted ($0.24) EPS. Sell-side analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of Acumen Pharmaceuticals in a report on Wednesday, November 13th.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABOS. JPMorgan Chase & Co. increased its holdings in Acumen Pharmaceuticals by 252.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company’s stock worth $156,000 after purchasing an additional 45,189 shares during the period. Franklin Resources Inc. increased its holdings in 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 buying an additional 181,451 shares during the period. Barclays PLC boosted its position 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Acumen Pharmaceuticals by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock worth $2,144,000 after acquiring an additional 52,395 shares in the last quarter. Finally, State Street Corp boosted its position in Acumen Pharmaceuticals by 18.3% during the third quarter. State Street Corp now owns 516,406 shares of the company’s stock valued at $1,281,000 after purchasing an additional 79,841 shares in the last quarter. 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.