Russell Barton Sells 7,636 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) COO Russell Barton sold 7,636 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $1.86, for a total value of $14,202.96. Following the transaction, the chief operating officer now owns 89,231 shares of the company’s stock, valued at approximately $165,969.66. This trade represents a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Acumen Pharmaceuticals Stock Down 7.1 %

Shares of Acumen Pharmaceuticals stock opened at $1.70 on Thursday. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $2.25 and a 200 day moving average price of $2.51. Acumen Pharmaceuticals, Inc. has a fifty-two week low of $1.69 and a fifty-two week high of $5.09. The firm has a market cap of $102.14 million, a P/E ratio of -1.23 and a beta of 0.02.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted 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 last year, the business earned ($0.24) earnings per share. On average, sell-side analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of institutional investors have recently modified their holdings of ABOS. JPMorgan Chase & Co. grew its holdings in shares of Acumen Pharmaceuticals by 252.8% during the third quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company’s stock valued at $156,000 after purchasing an additional 45,189 shares during the last quarter. Franklin Resources Inc. boosted its position in Acumen Pharmaceuticals by 5.4% during the 3rd 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 grew its stake in Acumen Pharmaceuticals by 189.1% during the 3rd quarter. Barclays PLC now owns 61,997 shares of the company’s stock worth $154,000 after buying an additional 40,551 shares during the last quarter. Geode Capital Management LLC grew its stake 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 during the last quarter. Finally, State Street Corp increased its position in Acumen Pharmaceuticals by 18.3% in the third 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. 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.