Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Sells $87,911.52 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 47,778 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $1.84, for a total value of $87,911.52. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Acumen Pharmaceuticals Stock Performance

Acumen Pharmaceuticals stock opened at $1.83 on Wednesday. Acumen Pharmaceuticals, Inc. has a 12-month low of $1.69 and a 12-month high of $5.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43. The company has a market capitalization of $109.95 million, a price-to-earnings ratio of -1.33 and a beta of 0.02. The firm’s fifty day moving average price is $2.27 and its 200 day moving average price is $2.52.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same period last year, the firm earned ($0.24) earnings per share. On average, research analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

A number of institutional investors have recently made changes to their positions in ABOS. SG Americas Securities LLC acquired a new stake in shares of Acumen Pharmaceuticals during the third quarter worth approximately $44,000. American Century Companies Inc. boosted its stake in Acumen Pharmaceuticals by 31.3% during the 2nd 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 during the last quarter. Rhumbline Advisers acquired a new position in Acumen Pharmaceuticals during the 2nd quarter worth $127,000. Murchinson Ltd. bought a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter worth about $136,000. Finally, Barclays PLC raised its stake in shares of Acumen Pharmaceuticals by 189.1% in 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 in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.