Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell Sells 47,778 Shares

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 sale, the chief executive officer now owns 454,707 shares in the company, valued at approximately $836,660.88. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Acumen Pharmaceuticals Trading Down 7.1 %

NASDAQ ABOS opened at $1.70 on Thursday. The firm has a market capitalization of $102.14 million, a PE ratio of -1.23 and a beta of 0.02. The business’s 50-day moving average price is $2.25 and its two-hundred day moving average price is $2.51. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. Acumen Pharmaceuticals, Inc. has a 12 month low of $1.69 and a 12 month high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its 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 last year, the company posted ($0.24) earnings per share. On average, analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Acumen Pharmaceuticals

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Acumen Pharmaceuticals by 252.8% in the third quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company’s stock valued at $156,000 after buying an additional 45,189 shares during the period. Franklin Resources Inc. lifted its stake in shares of Acumen Pharmaceuticals by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 3,549,069 shares of the company’s stock valued at $8,340,000 after purchasing an additional 181,451 shares during the period. Barclays PLC lifted 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 during the period. Geode Capital Management LLC boosted its position in shares of Acumen Pharmaceuticals by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock valued at $2,144,000 after purchasing an additional 52,395 shares in the last quarter. Finally, State Street Corp grew its stake in Acumen Pharmaceuticals by 18.3% during the third quarter. State Street Corp now owns 516,406 shares of the company’s stock worth $1,281,000 after purchasing an additional 79,841 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.