Matt Zuga Sells 28,902 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 28,902 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total transaction of $49,711.44. Following the sale, the chief financial officer now directly owns 231,744 shares in the company, valued at $398,599.68. This trade represents a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Matt Zuga also recently made the following trade(s):

• On Tuesday, January 21st, Matt Zuga sold 4,364 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.60, for a total transaction of $6,982.40.
• On Friday, January 3rd, Matt Zuga sold 13,235 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.84, for a total value of $24,352.40.

Acumen Pharmaceuticals Price Performance

ABOS stock opened at $1.73 on Friday. The firm has a 50 day simple moving average of $1.96 and a two-hundred day simple moving average of $2.46. The stock has a market cap of $103.94 million, a PE ratio of -1.25 and a beta of 0.02. Acumen Pharmaceuticals, Inc. has a one year low of $1.53 and a one year high of $5.09. 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 announced its 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 period in the prior year, the firm posted ($0.24) EPS. On average, analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Acumen Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Acumen Pharmaceuticals in the 3rd quarter worth approximately $44,000. American Century Companies Inc. lifted its holdings in shares of Acumen Pharmaceuticals by 31.3% in the 2nd quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock worth $110,000 after acquiring an additional 10,840 shares during the last quarter. Rhumbline Advisers purchased a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter valued at $127,000. Murchinson Ltd. bought a new position in shares of Acumen Pharmaceuticals during the 2nd quarter valued at $136,000. Finally, Barclays PLC raised its position in Acumen Pharmaceuticals by 189.1% in 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 during the period. 71.01% of the stock is currently owned by institutional investors.

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.