Acumen Pharmaceuticals (NASDAQ:ABOS) Insider Sells $11,769.94 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) insider James Doherty sold 6,467 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $1.82, for a total transaction of $11,769.94. Following the completion of the transaction, the insider owned 54,033 shares in the company, valued at $98,340.06. This trade represents a 10.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Acumen Pharmaceuticals Trading Down 2.7%

Shares of ABOS stock opened at $1.81 on Monday. The company has a market cap of $109.63 million, a price-to-earnings ratio of -0.82 and a beta of 0.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.02 and a quick ratio of 6.02. The firm has a fifty day moving average price of $1.94 and a 200-day moving average price of $1.69. Acumen Pharmaceuticals, Inc. has a 1 year low of $0.86 and a 1 year high of $2.46.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.19. As a group, equities analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Tuesday, October 14th. Finally, Bank of America decreased their target price on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.75.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ABOS. Hudson Bay Capital Management LP lifted its position in shares of Acumen Pharmaceuticals by 7.1% in the second quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock worth $957,000 after buying an additional 55,004 shares in the last quarter. SG Americas Securities LLC purchased a new position in Acumen Pharmaceuticals during the 3rd quarter valued at approximately $691,000. Y Intercept Hong Kong Ltd bought a new stake in Acumen Pharmaceuticals in the 2nd quarter worth approximately $291,000. Susquehanna International Group LLP raised its holdings in shares of Acumen Pharmaceuticals by 26.5% during the 3rd quarter. Susquehanna International Group LLP now owns 214,440 shares of the company’s stock worth $367,000 after acquiring an additional 44,902 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Acumen Pharmaceuticals by 45.4% during the 3rd quarter. Bank of America Corp DE now owns 213,729 shares of the company’s stock worth $365,000 after acquiring an additional 66,720 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral small molecule therapies for neurodegenerative diseases. Leveraging a proprietary drug discovery platform that integrates chemoproteomics, high-throughput screening and computational chemistry, the company seeks to identify and optimize compounds that selectively modulate pathological protein aggregation. Its approach is designed to address the underlying biology of conditions such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and related proteinopathies.

The company’s pipeline comprises multiple lead candidates at various stages of preclinical and early clinical development.