Insider Selling: Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Sells $24,352.40 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 13,235 shares of the business’s stock in a transaction 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 $364,706.40. This trade represents a 6.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Acumen Pharmaceuticals Price Performance

ABOS opened at $1.70 on Friday. The business has a fifty day moving average of $2.22 and a 200 day moving average of $2.50. The stock has a market cap of $102.14 million, a P/E ratio of -1.23 and a beta of 0.02. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. Acumen Pharmaceuticals, Inc. has a 52-week low of $1.69 and a 52-week high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same quarter in the previous year, the firm earned ($0.24) EPS. As a group, sell-side analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Acumen Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new position in shares of Acumen Pharmaceuticals during the second quarter worth approximately $818,000. Franklin Resources Inc. increased its holdings in Acumen Pharmaceuticals by 5.4% during the 3rd 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 during the period. Bank of New York Mellon Corp bought a new stake in Acumen Pharmaceuticals during the 2nd quarter valued at $306,000. State Street Corp lifted its holdings 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 worth $1,281,000 after buying an additional 79,841 shares during the period. Finally, Murchinson Ltd. bought a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth $136,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.