Short Interest in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Grows By 9.1%

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 1,560,000 shares, an increase of 9.1% from the December 15th total of 1,430,000 shares. Currently, 3.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 276,000 shares, the days-to-cover ratio is currently 5.7 days.

Insider Transactions at Acumen Pharmaceuticals

In related news, CEO Daniel Joseph Oconnell sold 47,778 shares of Acumen Pharmaceuticals stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total transaction of $87,911.52. Following the completion of the sale, the chief executive officer now owns 454,707 shares of the company’s stock, valued at approximately $836,660.88. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 79,508 shares of company stock valued at $146,556. 7.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in shares of Acumen Pharmaceuticals in the 3rd quarter worth approximately $44,000. American Century Companies Inc. lifted its holdings in shares of Acumen Pharmaceuticals by 31.3% in the 2nd 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 last quarter. Rhumbline Advisers bought a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter worth approximately $127,000. Murchinson Ltd. bought a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter worth approximately $136,000. Finally, Barclays PLC lifted its holdings in shares of Acumen Pharmaceuticals by 189.1% in the 3rd quarter. Barclays PLC now owns 61,997 shares of the company’s stock worth $154,000 after acquiring an additional 40,551 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Acumen Pharmaceuticals Trading Up 2.5 %

Shares of Acumen Pharmaceuticals stock opened at $1.65 on Friday. Acumen Pharmaceuticals has a 1 year low of $1.53 and a 1 year high of $5.09. The firm 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 company has a 50 day simple moving average of $2.05 and a two-hundred day simple moving average of $2.48.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same quarter last year, the company posted ($0.24) EPS. Analysts expect that Acumen Pharmaceuticals will post -1.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Acumen Pharmaceuticals in a research report 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.