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 dated Thursday, January 23rd. The shares were sold at an average price of $1.72, for a total transaction of $49,711.44. Following the completion of the sale, the chief financial officer now directly owns 231,744 shares of the company’s stock, valued at $398,599.68. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 shares were 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 stock was sold at an average price of $1.84, for a total value of $24,352.40.

Acumen Pharmaceuticals Price Performance

Shares of NASDAQ:ABOS opened at $1.65 on Friday. Acumen Pharmaceuticals, Inc. has a 52 week low of $1.53 and a 52 week high of $5.09. The company has a 50-day moving average price of $1.95 and a 200 day moving average price of $2.46. The company has a market cap of $99.13 million, a P/E ratio of -1.20 and a beta of 0.02. 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 (NASDAQ:ABOS) last posted its quarterly earnings results 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 last year, the business earned ($0.24) earnings per share. Research analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Acumen Pharmaceuticals in a research note on Wednesday, November 13th.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its stake in shares of Acumen Pharmaceuticals by 5.4% in the third 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 period. FMR LLC lifted its position in shares of Acumen Pharmaceuticals by 0.3% during the 3rd quarter. FMR LLC now owns 2,028,117 shares of the company’s stock valued at $5,030,000 after acquiring an additional 6,014 shares during the period. Geode Capital Management LLC boosted its stake in shares of Acumen Pharmaceuticals by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock worth $2,144,000 after acquiring an additional 52,395 shares in the last quarter. State Street Corp grew its holdings in shares of Acumen Pharmaceuticals by 18.3% in the 3rd quarter. State Street Corp now owns 516,406 shares of the company’s stock worth $1,281,000 after acquiring an additional 79,841 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Acumen Pharmaceuticals in the 2nd quarter valued at approximately $818,000. 71.01% of the stock is owned by institutional investors and hedge funds.

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.