Insider Selling: Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Sells 47,778 Shares of Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 47,778 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $1.84, for a total transaction of $87,911.52. Following the completion of the transaction, the chief executive officer now directly owns 454,707 shares of the company’s stock, valued at $836,660.88. This trade represents a 9.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Acumen Pharmaceuticals Price Performance

Shares of ABOS traded down $0.02 during trading hours on Tuesday, hitting $1.83. The stock had a trading volume of 184,478 shares, compared to its average volume of 247,994. Acumen Pharmaceuticals, Inc. has a 52 week low of $1.69 and a 52 week high of $5.09. The stock has a market capitalization of $109.95 million, a price-to-earnings ratio of -1.33 and a beta of 0.02. The company’s fifty day moving average is $2.27 and its two-hundred day moving average is $2.52. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same period in the previous year, the company earned ($0.24) EPS. On average, analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its stake in Acumen Pharmaceuticals by 5.4% in the third quarter. Franklin Resources Inc. now owns 3,549,069 shares of the company’s stock worth $8,340,000 after purchasing an additional 181,451 shares in the last quarter. FMR LLC raised its holdings in shares of Acumen Pharmaceuticals by 0.3% in the third quarter. FMR LLC now owns 2,028,117 shares of the company’s stock valued at $5,030,000 after buying an additional 6,014 shares during the last quarter. Geode Capital Management LLC lifted its position in Acumen Pharmaceuticals by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock worth $2,144,000 after buying an additional 52,395 shares in the last quarter. State Street Corp grew its holdings in Acumen Pharmaceuticals by 18.3% during the 3rd quarter. State Street Corp now owns 516,406 shares of the company’s stock worth $1,281,000 after acquiring an additional 79,841 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Acumen Pharmaceuticals in the 2nd quarter valued at about $818,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Acumen Pharmaceuticals in a research note 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.