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

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 12,619 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1.59, for a total transaction of $20,064.21. Following the sale, the chief executive officer now directly owns 667,488 shares in the company, valued at approximately $1,061,305.92. The trade was a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction of $87,911.52.

Acumen Pharmaceuticals Trading Down 1.1 %

Acumen Pharmaceuticals stock opened at $1.73 on Friday. Acumen Pharmaceuticals, Inc. has a 52-week low of $1.53 and a 52-week high of $5.09. The company has a market cap of $103.94 million, a P/E ratio of -1.25 and a beta of 0.02. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $1.96 and a two-hundred day simple moving average of $2.46.

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 in the prior year, the company posted ($0.24) EPS. Analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of hedge funds have recently modified their holdings of ABOS. Franklin Resources Inc. raised its holdings in Acumen Pharmaceuticals by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 3,549,069 shares of the company’s stock worth $8,340,000 after purchasing an additional 181,451 shares during the period. FMR LLC raised its stake in shares of Acumen Pharmaceuticals by 0.3% in the third quarter. FMR LLC now owns 2,028,117 shares of the company’s stock worth $5,030,000 after buying an additional 6,014 shares during the period. Geode Capital Management LLC raised its stake in shares of Acumen Pharmaceuticals by 6.5% in the third quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock worth $2,144,000 after buying an additional 52,395 shares during the period. State Street Corp grew its stake in shares of Acumen Pharmaceuticals by 18.3% during the 3rd quarter. State Street Corp now owns 516,406 shares of the company’s stock valued at $1,281,000 after acquiring an additional 79,841 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Acumen Pharmaceuticals during the 2nd quarter valued at approximately $818,000. Institutional investors own 71.01% of the company’s stock.

Acumen Pharmaceuticals Company Profile

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.