Matt Zuga Sells 28,902 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 28,902 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $1.72, for a total value of $49,711.44. Following the transaction, the chief financial officer now directly owns 231,744 shares of the company’s stock, valued at approximately $398,599.68. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, January 21st, Matt Zuga sold 4,364 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.60, for a total value of $6,982.40.
• On Friday, January 3rd, Matt Zuga sold 13,235 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.84, for a total value of $24,352.40.

Acumen Pharmaceuticals Price Performance

Shares of NASDAQ ABOS traded down $0.02 during trading on Thursday, hitting $1.73. The company had a trading volume of 335,357 shares, compared to its average volume of 378,633. Acumen Pharmaceuticals, Inc. has a 52 week low of $1.53 and a 52 week high of $5.09. The business’s 50-day moving average is $1.96 and its 200 day moving average is $2.46. The company has a market cap of $103.94 million, a P/E ratio of -1.25 and a beta of 0.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.43 and a current ratio of 10.43.

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 in the prior year, the business earned ($0.24) earnings per share. Equities research analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Acumen Pharmaceuticals during the third quarter valued at approximately $44,000. American Century Companies Inc. grew its position in Acumen Pharmaceuticals by 31.3% during the 2nd quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock worth $110,000 after purchasing an additional 10,840 shares in the last quarter. Rhumbline Advisers acquired a new stake in Acumen Pharmaceuticals during the 2nd quarter valued at $127,000. Murchinson Ltd. purchased a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at $136,000. Finally, Barclays PLC grew its holdings in shares of Acumen Pharmaceuticals by 189.1% during the third quarter. Barclays PLC now owns 61,997 shares of the company’s stock valued at $154,000 after buying an additional 40,551 shares in the last quarter. 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.