Matt Zuga Sells 13,235 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 13,235 shares of Acumen Pharmaceuticals stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total transaction of $24,352.40. Following the transaction, the chief financial officer now directly owns 198,210 shares of the company’s stock, valued at $364,706.40. The trade was a 6.26 % 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.

Acumen Pharmaceuticals Trading Down 7.1 %

Shares of NASDAQ ABOS opened at $1.70 on Thursday. Acumen Pharmaceuticals, Inc. has a fifty-two week low of $1.69 and a fifty-two week high of $5.09. 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 company has a market cap of $102.14 million, a price-to-earnings ratio of -1.23 and a beta of 0.02. The business’s 50 day moving average price is $2.25 and its 200-day moving average price is $2.51.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its 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 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 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.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Acumen Pharmaceuticals in the 3rd quarter worth about $44,000. American Century Companies Inc. boosted its holdings in shares of Acumen Pharmaceuticals by 31.3% in the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after purchasing an additional 10,840 shares during the period. Rhumbline Advisers bought a new position in Acumen Pharmaceuticals in the second quarter worth approximately $127,000. Murchinson Ltd. bought a new position in Acumen Pharmaceuticals in the second quarter worth approximately $136,000. Finally, Barclays PLC increased its holdings 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 purchasing an additional 40,551 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.