Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Sells $49,711.44 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 28,902 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total value of $49,711.44. Following the sale, the chief financial officer now directly owns 231,744 shares in the company, valued at $398,599.68. This represents a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Matt Zuga also recently made the following trade(s):

• On Tuesday, January 21st, Matt Zuga sold 4,364 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.60, for a total value of $6,982.40.
• On Friday, January 3rd, Matt Zuga sold 13,235 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.84, for a total value of $24,352.40.

Acumen Pharmaceuticals Stock Down 4.6 %

Acumen Pharmaceuticals stock opened at $1.65 on Friday. The stock has a market cap of $99.13 million, a PE ratio of -1.20 and a beta of 0.02. 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 fifty day moving average is $1.95 and its two-hundred day moving average is $2.46. Acumen Pharmaceuticals, Inc. has a 1-year low of $1.53 and a 1-year high of $5.09.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Acumen Pharmaceuticals in the third quarter valued at $44,000. American Century Companies Inc. increased its position 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 in the last quarter. Rhumbline Advisers purchased a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter valued at about $127,000. Murchinson Ltd. acquired a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter valued at about $136,000. Finally, Barclays PLC grew its stake 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 buying an additional 40,551 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.