Russell Barton Sells 7,636 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) COO Russell Barton sold 7,636 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $1.86, for a total value of $14,202.96. Following the completion of the transaction, the chief operating officer now owns 89,231 shares of the company’s stock, valued at $165,969.66. This trade represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Acumen Pharmaceuticals Stock Performance

Shares of ABOS stock opened at $1.70 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.43 and a current ratio of 10.43. The firm has a market capitalization of $102.14 million, a price-to-earnings ratio of -1.23 and a beta of 0.02. Acumen Pharmaceuticals, Inc. has a one year low of $1.69 and a one year high of $5.09. The company has a 50 day moving average price of $2.25 and a 200 day moving average price of $2.51.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same period last year, the business posted ($0.24) earnings per share. Sell-side analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Acumen Pharmaceuticals in a research report on Wednesday, November 13th.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Acumen Pharmaceuticals during the third quarter valued at approximately $44,000. American Century Companies Inc. lifted its position in Acumen Pharmaceuticals by 31.3% during 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 in the last quarter. Rhumbline Advisers purchased a new position in Acumen Pharmaceuticals in the 2nd quarter worth approximately $127,000. Murchinson Ltd. acquired a new stake in Acumen Pharmaceuticals in the second quarter valued at approximately $136,000. Finally, Barclays PLC raised its stake in shares of Acumen Pharmaceuticals by 189.1% during the third quarter. Barclays PLC now owns 61,997 shares of the company’s stock valued at $154,000 after purchasing an additional 40,551 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

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.