Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Insider Sells $20,089.15 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) insider Eric Siemers sold 10,859 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $1.85, for a total transaction of $20,089.15. Following the completion of the sale, the insider now directly owns 106,717 shares of the company’s stock, valued at $197,426.45. This trade represents a 9.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Acumen Pharmaceuticals Price Performance

Shares of NASDAQ ABOS opened at $1.70 on Friday. 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 fifty-two week low of $1.69 and a fifty-two week high of $5.09. The business has a 50 day moving average price of $2.22 and a two-hundred day moving average price of $2.50. The firm has a market cap of $102.14 million, a PE ratio of -1.23 and a beta of 0.02.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same period last year, the business earned ($0.24) EPS. Sell-side analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new position in Acumen Pharmaceuticals in the second quarter worth about $818,000. Franklin Resources Inc. lifted 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 buying an additional 181,451 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Acumen Pharmaceuticals in the 2nd quarter worth approximately $306,000. State Street Corp increased 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 valued at $1,281,000 after acquiring an additional 79,841 shares during the last quarter. Finally, Murchinson Ltd. acquired a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter valued at approximately $136,000. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

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

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.