Nathan Fountain Sells 6,400 Shares of Acumen Pharmaceuticals (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Director Nathan Fountain sold 6,400 shares of Acumen Pharmaceuticals stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $2.23, for a total value of $14,272.00. Following the transaction, the director owned 48,150 shares of the company’s stock, valued at approximately $107,374.50. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Acumen Pharmaceuticals Stock Up 5.8%

Shares of ABOS stock opened at $2.37 on Friday. The stock has a 50 day moving average of $2.50 and a 200 day moving average of $2.42. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.19. The stock has a market cap of $171.18 million, a P/E ratio of -1.27 and a beta of 0.34. Acumen Pharmaceuticals, Inc. has a twelve month low of $1.05 and a twelve month high of $3.60.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.07. As a group, sell-side analysts expect that Acumen Pharmaceuticals, Inc. will post -1.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABOS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Wednesday, April 8th. BTIG Research reiterated a “buy” rating and set a $8.00 price target on shares of Acumen Pharmaceuticals in a research report on Thursday, March 26th. Finally, Wall Street Zen upgraded Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Institutional Trading of Acumen Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Acumen Pharmaceuticals in the third quarter worth approximately $27,000. Sei Investments Co. acquired a new stake in shares of Acumen Pharmaceuticals in the first quarter worth approximately $27,000. Marex Group plc acquired a new stake in shares of Acumen Pharmaceuticals in the second quarter worth approximately $39,000. Independent Advisor Alliance acquired a new stake in shares of Acumen Pharmaceuticals in the fourth quarter worth approximately $40,000. Finally, PFG Investments LLC boosted its stake in shares of Acumen Pharmaceuticals by 65.2% in the fourth quarter. PFG Investments LLC now owns 19,000 shares of the company’s stock worth $40,000 after acquiring an additional 7,500 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

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.