Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Insider Eric Siemers Sells 10,859 Shares

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

Acumen Pharmaceuticals Price Performance

ABOS stock opened at $1.83 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.43 and a current ratio of 10.43. The stock’s 50 day moving average price is $2.27 and its 200 day moving average price is $2.52. The firm has a market cap of $109.95 million, a P/E ratio of -1.33 and a beta of 0.02. Acumen Pharmaceuticals, Inc. has a 1 year low of $1.69 and a 1 year high of $5.09.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Acumen Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in Acumen Pharmaceuticals in the 2nd quarter worth approximately $818,000. Franklin Resources Inc. grew its position in shares of Acumen Pharmaceuticals by 5.4% in the third 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. Bank of New York Mellon Corp acquired a new position in Acumen Pharmaceuticals in the second quarter valued at $306,000. State Street Corp lifted its position in Acumen Pharmaceuticals by 18.3% during 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. Finally, Murchinson Ltd. acquired a new stake in Acumen Pharmaceuticals in the 2nd quarter worth about $136,000. Institutional investors and hedge funds 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.