Acumen Pharmaceuticals (NASDAQ:ABOS) Announces Earnings Results, Misses Estimates By $0.15 EPS

Acumen Pharmaceuticals (NASDAQ:ABOS) released its earnings results on Thursday. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.15), Zacks reports.

Acumen Pharmaceuticals Stock Performance

Shares of Acumen Pharmaceuticals stock opened at $1.19 on Friday. The firm’s fifty day simple moving average is $1.38 and its 200-day simple moving average is $1.99. Acumen Pharmaceuticals has a 12 month low of $1.10 and a 12 month high of $4.06. The stock has a market capitalization of $71.50 million, a price-to-earnings ratio of -0.86 and a beta of 0.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group lowered their target price on shares of Acumen Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Friday. HC Wainwright dropped their price objective on Acumen Pharmaceuticals from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday.

Insider Buying and Selling

In other news, 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 completion of the sale, the chief financial officer now owns 231,744 shares in the company, valued at $398,599.68. This represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel Joseph Oconnell sold 47,778 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total value of $87,911.52. Following the sale, the chief executive officer now directly owns 454,707 shares of the company’s stock, valued at approximately $836,660.88. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,526 shares of company stock worth $233,124 in the last 90 days. Company insiders own 7.10% of the company’s stock.

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.