Insider Selling: Acumen Pharmaceuticals (NASDAQ:ABOS) CEO Sells $16,916.26 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 9,346 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $1.81, for a total value of $16,916.26. Following the transaction, the chief executive officer directly owned 883,964 shares in the company, valued at $1,599,974.84. This trade represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Thursday, January 22nd, Daniel Joseph Oconnell sold 2,689 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.88, for a total transaction of $5,055.32.
• On Monday, January 12th, Daniel Joseph Oconnell sold 5,388 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.73, for a total transaction of $9,321.24.
• On Friday, January 9th, Daniel Joseph Oconnell sold 12,941 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.76, for a total transaction of $22,776.16.
• On Thursday, January 8th, Daniel Joseph Oconnell sold 8,143 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.82, for a total transaction of $14,820.26.
• On Wednesday, January 7th, Daniel Joseph Oconnell sold 37,755 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.99, for a total transaction of $75,132.45.
• On Tuesday, January 6th, Daniel Joseph Oconnell sold 5,102 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.97, for a total transaction of $10,050.94.
• On Monday, January 5th, Daniel Joseph Oconnell sold 4,649 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.97, for a total transaction of $9,158.53.

Acumen Pharmaceuticals Stock Performance

Acumen Pharmaceuticals stock opened at $1.98 on Monday. Acumen Pharmaceuticals, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $2.46. The stock’s 50 day simple moving average is $1.93 and its two-hundred day simple moving average is $1.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.02 and a current ratio of 6.02. The stock has a market cap of $119.93 million, a price-to-earnings ratio of -0.89 and a beta of 0.23.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABOS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Friday, January 9th. Bank of America dropped their price objective on shares of Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Finally, Wall Street Zen raised shares of Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Acumen Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $6.75.

Institutional Trading of Acumen Pharmaceuticals

Several institutional investors have recently bought and sold shares of ABOS. SG Americas Securities LLC bought a new stake in Acumen Pharmaceuticals during the 3rd quarter valued at about $691,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Acumen Pharmaceuticals during the second quarter valued at approximately $291,000. Jane Street Group LLC increased its position in shares of Acumen Pharmaceuticals by 1,526.0% during the second quarter. Jane Street Group LLC now owns 175,670 shares of the company’s stock valued at $204,000 after acquiring an additional 164,866 shares in the last quarter. Marshall Wace LLP purchased a new position in Acumen Pharmaceuticals in the 2nd quarter worth approximately $160,000. Finally, Bridgeway Capital Management LLC raised its holdings in Acumen Pharmaceuticals by 65.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 190,171 shares of the company’s stock worth $325,000 after acquiring an additional 75,000 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.