Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Sells $87,911.52 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 47,778 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total transaction of $87,911.52. Following the sale, the chief executive officer now owns 454,707 shares in the company, valued at approximately $836,660.88. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Acumen Pharmaceuticals Stock Down 7.1 %

Shares of NASDAQ:ABOS opened at $1.70 on Friday. Acumen Pharmaceuticals, Inc. has a fifty-two week low of $1.69 and a fifty-two week high of $5.09. The firm’s 50 day moving average price is $2.22 and its 200 day moving average price is $2.50. 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 stock has a market cap of $102.14 million, a price-to-earnings ratio of -1.23 and a beta of 0.02.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings data 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 last year, the firm earned ($0.24) EPS. As a group, equities research analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter worth approximately $306,000. Rhumbline Advisers acquired a new position in Acumen Pharmaceuticals in the second quarter valued at $127,000. American Century Companies Inc. grew its holdings in shares of Acumen Pharmaceuticals by 31.3% during the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock worth $110,000 after purchasing an additional 10,840 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Acumen Pharmaceuticals during the second quarter worth about $818,000. Finally, Murchinson Ltd. purchased a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter valued at about $136,000. 71.01% of the stock is owned by institutional investors and hedge funds.

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.