Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Up 9.1% in January

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,560,000 shares, a growth of 9.1% from the December 31st total of 1,430,000 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average daily trading volume, of 276,000 shares, the short-interest ratio is presently 5.7 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Acumen Pharmaceuticals in a research note on Wednesday, November 13th.

Acumen Pharmaceuticals Stock Performance

Shares of ABOS stock opened at $1.50 on Tuesday. Acumen Pharmaceuticals has a twelve month low of $1.46 and a twelve month high of $5.09. The company has a market capitalization of $90.12 million and a P/E ratio of -1.09. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $1.86 and its two-hundred day moving average is $2.40.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same quarter in the prior year, the firm earned ($0.24) EPS. Equities analysts forecast that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Daniel Joseph Oconnell sold 47,778 shares of Acumen Pharmaceuticals stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $1.84, for a total value of $87,911.52. Following the completion of the sale, the chief executive officer now directly owns 454,707 shares in the company, valued at $836,660.88. The trade was a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Matt Zuga sold 28,902 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $1.72, for a total value of $49,711.44. Following the sale, the chief financial officer now directly owns 231,744 shares in the company, valued at approximately $398,599.68. The trade was a 11.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,526 shares of company stock valued at $233,124. Insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its stake in Acumen Pharmaceuticals by 44.2% in the fourth quarter. SG Americas Securities LLC now owns 25,631 shares of the company’s stock worth $44,000 after purchasing an additional 7,859 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Acumen Pharmaceuticals by 31.3% in the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after buying an additional 10,840 shares during the period. Barclays PLC increased its holdings in shares of Acumen Pharmaceuticals by 189.1% in the third quarter. Barclays PLC now owns 61,997 shares of the company’s stock valued at $154,000 after buying an additional 40,551 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Acumen Pharmaceuticals by 252.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company’s stock valued at $156,000 after acquiring an additional 45,189 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Acumen Pharmaceuticals in the 2nd quarter worth approximately $818,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.