Insider Selling: Acumen Pharmaceuticals (NASDAQ:ABOS) CFO Sells 6,888 Shares of Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 6,888 shares of Acumen Pharmaceuticals stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $1.82, for a total transaction of $12,536.16. Following the sale, the chief financial officer owned 209,951 shares of the company’s stock, valued at $382,110.82. The trade was a 3.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Matt Zuga also recently made the following trade(s):

• On Wednesday, January 7th, Matt Zuga sold 5,805 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.99, for a total transaction of $11,551.95.
• On Tuesday, January 6th, Matt Zuga sold 5,100 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.97, for a total transaction of $10,047.00.
• On Monday, January 5th, Matt Zuga sold 4,000 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.96, for a total value of $7,840.00.

Acumen Pharmaceuticals Trading Down 5.0%

ABOS traded down $0.09 during trading on Monday, hitting $1.72. 302,203 shares of the stock were exchanged, compared to its average volume of 269,914. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.02 and a current ratio of 6.02. The firm has a 50 day simple moving average of $1.94 and a 200 day simple moving average of $1.69. The firm has a market cap of $104.18 million, a price-to-earnings ratio of -0.77 and a beta of 0.23. Acumen Pharmaceuticals, Inc. has a 1 year low of $0.86 and a 1 year high of $2.46.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.19. As a group, equities analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ABOS shares. Wall Street Zen upgraded shares of Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Tuesday, October 14th. Finally, Bank of America cut their price target on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Acumen Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $6.75.

Institutional Trading of Acumen Pharmaceuticals

A number of institutional investors have recently made changes to their positions in ABOS. Y Intercept Hong Kong Ltd acquired a new position in Acumen Pharmaceuticals during the 2nd quarter valued at about $291,000. SG Americas Securities LLC acquired a new stake in Acumen Pharmaceuticals in the third quarter worth about $691,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Acumen Pharmaceuticals during the third quarter worth about $27,000. Susquehanna International Group LLP raised its position in shares of Acumen Pharmaceuticals by 26.5% in the 3rd quarter. Susquehanna International Group LLP now owns 214,440 shares of the company’s stock valued at $367,000 after purchasing an additional 44,902 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Acumen Pharmaceuticals by 45.4% in the 3rd quarter. Bank of America Corp DE now owns 213,729 shares of the company’s stock valued at $365,000 after purchasing an additional 66,720 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

About Acumen Pharmaceuticals

Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral small molecule therapies for neurodegenerative diseases. Leveraging a proprietary drug discovery platform that integrates chemoproteomics, high-throughput screening and computational chemistry, the company seeks to identify and optimize compounds that selectively modulate pathological protein aggregation. Its approach is designed to address the underlying biology of conditions such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and related proteinopathies.

The company’s pipeline comprises multiple lead candidates at various stages of preclinical and early clinical development.