Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell Sells 12,619 Shares

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 12,619 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1.59, for a total value of $20,064.21. Following the transaction, the chief executive officer now directly owns 667,488 shares in the company, valued at approximately $1,061,305.92. This represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Daniel Joseph Oconnell also recently made the following trade(s):

• On Friday, January 3rd, Daniel Joseph Oconnell sold 47,778 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.84, for a total value of $87,911.52.

Acumen Pharmaceuticals Trading Down 1.1 %

Shares of ABOS traded down $0.02 during mid-day trading on Thursday, reaching $1.73. 335,357 shares of the company’s stock traded hands, compared to its average volume of 378,633. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43. The stock’s 50-day moving average is $1.98 and its two-hundred day moving average is $2.46. Acumen Pharmaceuticals, Inc. has a 12 month low of $1.53 and a 12 month high of $5.09. The stock has a market cap of $103.94 million, a P/E ratio of -1.25 and a beta of 0.02.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same quarter in the prior year, the company earned ($0.24) earnings per share. Research analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of Acumen Pharmaceuticals by 6.5% in the third quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock valued at $2,144,000 after purchasing an additional 52,395 shares during the period. State Street Corp raised its position in Acumen Pharmaceuticals by 18.3% during the 3rd quarter. State Street Corp now owns 516,406 shares of the company’s stock valued at $1,281,000 after purchasing an additional 79,841 shares in the last quarter. Barclays PLC increased its stake in shares of Acumen Pharmaceuticals by 189.1% during the third quarter. Barclays PLC now owns 61,997 shares of the company’s stock valued at $154,000 after buying an additional 40,551 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at about $818,000. Finally, American Century Companies Inc. lifted its stake in Acumen Pharmaceuticals by 31.3% in the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock worth $110,000 after acquiring an additional 10,840 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Acumen Pharmaceuticals in a research note 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.