Acumen Pharmaceuticals (NASDAQ:ABOS) Issues Quarterly Earnings Results

Acumen Pharmaceuticals (NASDAQ:ABOS) issued its earnings results on Thursday. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.15), Zacks reports.

Acumen Pharmaceuticals Stock Up 2.6 %

Shares of NASDAQ:ABOS opened at $1.19 on Thursday. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $1.39 and its 200 day moving average is $2.00. The stock has a market cap of $71.50 million, a P/E ratio of -0.88 and a beta of 0.02. Acumen Pharmaceuticals has a 52-week low of $1.10 and a 52-week high of $4.28.

Insiders Place Their Bets

In other news, CFO Matt Zuga sold 28,902 shares of Acumen Pharmaceuticals 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 transaction, the chief financial officer now directly owns 231,744 shares in the company, valued at approximately $398,599.68. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel Joseph Oconnell sold 47,778 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total value of $87,911.52. Following the sale, the chief executive officer now owns 454,707 shares of the company’s stock, valued at $836,660.88. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,526 shares of company stock worth $233,124. 7.10% of the stock is currently owned by company insiders.

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.