Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Insider Sells $20,089.15 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) insider Eric Siemers sold 10,859 shares of Acumen Pharmaceuticals stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $1.85, for a total value of $20,089.15. Following the completion of the sale, the insider now owns 106,717 shares in the company, valued at approximately $197,426.45. The trade was a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Acumen Pharmaceuticals Stock Performance

NASDAQ ABOS traded down $0.02 during trading hours on Tuesday, hitting $1.83. The company had a trading volume of 184,478 shares, compared to its average volume of 247,994. Acumen Pharmaceuticals, Inc. has a 1-year low of $1.69 and a 1-year high of $5.09. 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 company has a market cap of $109.95 million, a PE ratio of -1.33 and a beta of 0.02. The business has a 50 day moving average of $2.27 and a 200-day moving average of $2.52.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its earnings results on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same period in the prior year, the business posted ($0.24) EPS. As a group, equities research analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Acumen Pharmaceuticals by 252.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company’s stock valued at $156,000 after buying an additional 45,189 shares during the last quarter. Franklin Resources Inc. boosted 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 valued at $8,340,000 after acquiring an additional 181,451 shares during the last quarter. Barclays PLC increased its position in Acumen Pharmaceuticals by 189.1% during the 3rd quarter. Barclays PLC now owns 61,997 shares of the company’s stock worth $154,000 after purchasing an additional 40,551 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Acumen Pharmaceuticals by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock valued at $2,144,000 after purchasing an additional 52,395 shares in the last quarter. Finally, State Street Corp raised its holdings in 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 acquiring an additional 79,841 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.