Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Sells $24,352.40 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 13,235 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 $24,352.40. Following the sale, the chief financial officer now owns 198,210 shares of the company’s stock, valued at approximately $364,706.40. This represents a 6.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Acumen Pharmaceuticals Price Performance

Shares of ABOS opened at $1.70 on Thursday. The company has a 50 day moving average of $2.25 and a two-hundred day moving average of $2.51. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. Acumen Pharmaceuticals, Inc. has a twelve month low of $1.69 and a twelve month high of $5.09. The company has a market cap of $102.14 million, a price-to-earnings ratio of -1.23 and a beta of 0.02.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings data 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 in the previous year, the business earned ($0.24) earnings per share. As a group, analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Large investors have recently modified their holdings of the business. Franklin Resources Inc. raised its position in shares of Acumen Pharmaceuticals by 5.4% in the 3rd 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 last quarter. FMR LLC raised its holdings in shares of Acumen Pharmaceuticals by 0.3% in the third quarter. FMR LLC now owns 2,028,117 shares of the company’s stock worth $5,030,000 after buying an additional 6,014 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Acumen Pharmaceuticals by 6.5% during the third quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock worth $2,144,000 after buying an additional 52,395 shares during the period. State Street Corp lifted its stake in shares of 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, Renaissance Technologies LLC purchased a new stake in shares of Acumen Pharmaceuticals during the second quarter valued at $818,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $15.00 price objective 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.