Acumen Pharmaceuticals (NASDAQ:ABOS) Director Derrell Porter Sells 13,040 Shares

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Director Derrell Porter sold 13,040 shares of Acumen Pharmaceuticals stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $2.33, for a total transaction of $30,383.20. Following the completion of the sale, the director owned 35,500 shares of the company’s stock, valued at approximately $82,715. This trade represents a 26.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• 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 transaction of $29,824.00.
• On Monday, June 15th, Derrell Porter sold 6,460 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $2.35, for a total transaction of $15,181.00.

Acumen Pharmaceuticals Stock Down 1.7%

Shares of NASDAQ:ABOS opened at $2.25 on Thursday. 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 company has a fifty day simple moving average of $2.47 and a 200 day simple moving average of $2.43. The firm has a market cap of $162.51 million, a PE ratio of -1.21 and a beta of 0.34. Acumen Pharmaceuticals, Inc. has a 12-month low of $1.10 and a 12-month high of $3.60.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) 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 fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ABOS shares. 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. Wall Street Zen downgraded shares of Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.00.

Hedge Funds Weigh In On Acumen Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new position in shares of Acumen Pharmaceuticals during the first quarter worth about $46,000. Marshall Wace LLP bought a new position in shares of Acumen Pharmaceuticals during the second quarter worth about $160,000. Qube Research & Technologies Ltd grew its position in shares of Acumen Pharmaceuticals by 160.0% during the second quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock worth $67,000 after acquiring an additional 35,424 shares during the last quarter. Jane Street Group LLC grew its position in shares of Acumen Pharmaceuticals by 1,526.0% during the second quarter. Jane Street Group LLC now owns 175,670 shares of the company’s stock worth $204,000 after acquiring an additional 164,866 shares during the last quarter. Finally, Hudson Bay Capital Management LP grew its position in shares of Acumen Pharmaceuticals by 7.1% during the second quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock worth $957,000 after acquiring an additional 55,004 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.