Acumen Pharmaceuticals (NASDAQ:ABOS) Posts Quarterly Earnings Results

Acumen Pharmaceuticals (NASDAQ:ABOS) issued its quarterly earnings results on Thursday. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.15), Zacks reports.

Acumen Pharmaceuticals Price Performance

NASDAQ ABOS opened at $1.23 on Friday. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. The company has a market cap of $73.90 million, a PE ratio of -0.89 and a beta of 0.02. Acumen Pharmaceuticals has a 52 week low of $1.10 and a 52 week high of $4.28. The firm’s 50-day simple moving average is $1.39 and its two-hundred day simple moving average is $2.00.

Insider Transactions at Acumen Pharmaceuticals

In other Acumen Pharmaceuticals news, CFO Matt Zuga sold 28,902 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total value of $49,711.44. Following the completion of the transaction, the chief financial officer now owns 231,744 shares in the company, valued at $398,599.68. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Joseph Oconnell sold 47,778 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $1.84, for a total value of $87,911.52. Following the sale, the chief executive officer now owns 454,707 shares in the company, valued at approximately $836,660.88. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,526 shares of company stock worth $233,124 over the last quarter. Corporate insiders own 7.10% of the company’s stock.

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.