Insider Selling: Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Insider Sells 10,859 Shares of 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 shares were sold at an average price of $1.85, for a total transaction of $20,089.15. Following the transaction, the insider now directly owns 106,717 shares of the company’s stock, valued at approximately $197,426.45. This trade represents a 9.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Acumen Pharmaceuticals Price Performance

Shares of NASDAQ:ABOS opened at $1.70 on Thursday. The business has a fifty day moving average price of $2.25 and a 200-day moving average price of $2.51. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43. The company has a market capitalization of $102.14 million, a PE ratio of -1.23 and a beta of 0.02. Acumen Pharmaceuticals, Inc. has a 1-year low of $1.69 and a 1-year high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same quarter last year, the company posted ($0.24) EPS. As a group, equities analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Acumen Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of 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 acquiring an additional 45,189 shares during the last quarter. Franklin Resources Inc. lifted its position in 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 purchasing an additional 181,451 shares during the period. Barclays PLC boosted its holdings in Acumen Pharmaceuticals by 189.1% in the third quarter. Barclays PLC now owns 61,997 shares of the company’s stock worth $154,000 after purchasing an additional 40,551 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Acumen Pharmaceuticals by 6.5% in the third quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock worth $2,144,000 after purchasing an additional 52,395 shares during the last quarter. Finally, State Street Corp grew its position in Acumen Pharmaceuticals by 18.3% in the 3rd quarter. State Street Corp now owns 516,406 shares of the company’s stock worth $1,281,000 after purchasing an additional 79,841 shares during the period. 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.