Matt Zuga Sells 13,235 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 13,235 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $1.84, for a total transaction of $24,352.40. Following the transaction, the chief financial officer now owns 198,210 shares in the company, valued at approximately $364,706.40. This represents a 6.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Acumen Pharmaceuticals Stock Performance

ABOS stock opened at $1.70 on Friday. Acumen Pharmaceuticals, Inc. has a one year low of $1.69 and a one year high of $5.09. The firm has a market cap of $102.14 million, a price-to-earnings ratio of -1.23 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. The firm has a 50-day simple moving average of $2.22 and a two-hundred day simple moving average of $2.50.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its earnings results on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same quarter in the prior year, the firm earned ($0.24) EPS. On average, equities analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Institutional Trading of Acumen Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in Acumen Pharmaceuticals during the 2nd quarter valued at about $818,000. Franklin Resources Inc. grew its stake in shares of Acumen Pharmaceuticals by 5.4% during the third quarter. Franklin Resources Inc. now owns 3,549,069 shares of the company’s stock worth $8,340,000 after acquiring an additional 181,451 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Acumen Pharmaceuticals in the 2nd quarter valued at approximately $306,000. State Street Corp raised its position in shares of Acumen Pharmaceuticals by 18.3% in the 3rd quarter. State Street Corp now owns 516,406 shares of the company’s stock valued at $1,281,000 after purchasing an additional 79,841 shares during the last quarter. Finally, Murchinson Ltd. acquired a new stake in Acumen Pharmaceuticals in the 2nd quarter worth approximately $136,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Acumen Pharmaceuticals

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.