Insider Selling: Acumen Pharmaceuticals (NASDAQ:ABOS) Director Sells $15,181.00 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Director Derrell Porter sold 6,460 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $2.35, for a total value of $15,181.00. Following the sale, the director owned 48,300 shares of the company’s stock, valued at approximately $113,505. This represents a 11.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Derrell Porter also recently made the following trade(s):

• On Wednesday, June 17th, Derrell Porter sold 13,040 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $2.33, for a total value of $30,383.20.
• On Tuesday, June 16th, Derrell Porter sold 12,800 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $2.33, for a total value of $29,824.00.

Acumen Pharmaceuticals Stock Performance

NASDAQ ABOS traded down $0.04 on Wednesday, reaching $2.25. The stock had a trading volume of 947,529 shares, compared to its average volume of 621,699. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.55 and a quick ratio of 4.55. The firm has a fifty day moving average of $2.48 and a two-hundred day moving average of $2.43. Acumen Pharmaceuticals, Inc. has a 1-year low of $1.10 and a 1-year high of $3.60. The company has a market cap of $162.52 million, a P/E ratio of -1.21 and a beta of 0.34.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. On average, equities research analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.39 EPS for the current year.

Institutional Trading of Acumen Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. bought a new position in Acumen Pharmaceuticals in the first quarter valued at approximately $27,000. Jacobs Levy Equity Management Inc. acquired a new position in Acumen Pharmaceuticals during the third quarter valued at approximately $27,000. Independent Advisor Alliance bought a new stake in Acumen Pharmaceuticals during the fourth quarter worth $40,000. PFG Investments LLC lifted its stake in Acumen Pharmaceuticals by 65.2% during the fourth quarter. PFG Investments LLC now owns 19,000 shares of the company’s stock worth $40,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Acumen Pharmaceuticals in the 4th quarter valued at $44,000. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Wednesday, April 8th. Wall Street Zen lowered Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, BTIG Research reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Acumen Pharmaceuticals in a report on Thursday, March 26th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.00.

Acumen Pharmaceuticals Company Profile

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.