Insider Selling: Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Sells 12,619 Shares of Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 12,619 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1.59, for a total value of $20,064.21. Following the completion of the sale, the chief executive officer now owns 667,488 shares of the company’s stock, valued at $1,061,305.92. This trade represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Daniel Joseph Oconnell also recently made the following trade(s):

• On Friday, January 3rd, Daniel Joseph Oconnell sold 47,778 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.84, for a total value of $87,911.52.

Acumen Pharmaceuticals Stock Down 4.6 %

Shares of ABOS stock opened at $1.65 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43. Acumen Pharmaceuticals, Inc. has a one year low of $1.53 and a one year high of $5.09. The company’s fifty day moving average price is $1.95 and its 200-day moving average price is $2.46. The company has a market capitalization of $99.13 million, a price-to-earnings ratio of -1.20 and a beta of 0.02.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Acumen Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABOS. SG Americas Securities LLC purchased a new stake in Acumen Pharmaceuticals during the 3rd quarter valued at approximately $44,000. American Century Companies Inc. grew its stake in Acumen Pharmaceuticals by 31.3% during the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after acquiring an additional 10,840 shares in the last quarter. Rhumbline Advisers bought a new stake in Acumen Pharmaceuticals in the 2nd quarter valued at $127,000. Murchinson Ltd. purchased a new stake in Acumen Pharmaceuticals in the 2nd quarter worth $136,000. Finally, Barclays PLC boosted its holdings in shares of 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 purchasing an additional 40,551 shares during 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.