Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell Sells 12,619 Shares

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 12,619 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1.59, for a total transaction of $20,064.21. Following the completion of the transaction, the chief executive officer now directly owns 667,488 shares of the company’s stock, valued at approximately $1,061,305.92. This represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Daniel Joseph Oconnell also recently made the following trade(s):

• On Friday, January 3rd, Daniel Joseph Oconnell sold 47,778 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.84, for a total value of $87,911.52.

Acumen Pharmaceuticals Stock Performance

NASDAQ ABOS traded down $0.02 on Thursday, hitting $1.73. 335,357 shares of the company’s stock traded hands, compared to its average volume of 378,633. The firm’s 50-day moving average price is $1.98 and its two-hundred day moving average price is $2.46. The firm has a market capitalization of $103.94 million, a PE ratio of -1.25 and a beta of 0.02. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. Acumen Pharmaceuticals, Inc. has a 1-year low of $1.53 and a 1-year high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same quarter in the prior year, the business posted ($0.24) EPS. As a group, analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its holdings in Acumen Pharmaceuticals by 0.3% during the third quarter. FMR LLC now owns 2,028,117 shares of the company’s stock worth $5,030,000 after acquiring an additional 6,014 shares during the period. SG Americas Securities LLC lifted its holdings in Acumen Pharmaceuticals by 44.2% in the fourth quarter. SG Americas Securities LLC now owns 25,631 shares of the company’s stock valued at $44,000 after acquiring an additional 7,859 shares during the period. American Century Companies Inc. boosted its position in 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 purchasing an additional 10,840 shares in the last quarter. Barclays PLC grew its stake in shares of 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 purchasing an additional 40,551 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Acumen Pharmaceuticals by 252.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company’s stock valued at $156,000 after purchasing an additional 45,189 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

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 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.