Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Update

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,560,000 shares, an increase of 9.1% from the December 31st total of 1,430,000 shares. Based on an average daily volume of 276,000 shares, the short-interest ratio is presently 5.7 days. Currently, 3.5% of the company’s stock are short sold.

Insider Activity at Acumen Pharmaceuticals

In related news, CEO Daniel Joseph Oconnell sold 47,778 shares of Acumen Pharmaceuticals stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total transaction of $87,911.52. Following the completion of the transaction, the chief executive officer now directly owns 454,707 shares of the company’s stock, valued at approximately $836,660.88. The trade was a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Matt Zuga sold 28,902 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $1.72, for a total value of $49,711.44. Following the sale, the chief financial officer now directly owns 231,744 shares in the company, valued at approximately $398,599.68. The trade was a 11.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,526 shares of company stock worth $233,124. Company insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Acumen Pharmaceuticals

A number of institutional investors have recently modified their holdings of ABOS. FMR LLC grew its holdings in shares of Acumen Pharmaceuticals by 0.3% during the 3rd quarter. FMR LLC now owns 2,028,117 shares of the company’s stock worth $5,030,000 after purchasing an additional 6,014 shares in the last quarter. SG Americas Securities LLC lifted its position in Acumen Pharmaceuticals by 44.2% in the 4th 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 in the last quarter. American Century Companies Inc. lifted its stake in Acumen Pharmaceuticals by 31.3% in the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after acquiring an additional 10,840 shares during the last quarter. Barclays PLC raised its holdings in Acumen Pharmaceuticals by 189.1% in the 3rd quarter. Barclays PLC now owns 61,997 shares of the company’s stock valued at $154,000 after acquiring 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 third quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company’s stock worth $156,000 after purchasing an additional 45,189 shares during the period. Institutional investors own 71.01% of the company’s stock.

Acumen Pharmaceuticals Stock Performance

Shares of ABOS opened at $1.50 on Tuesday. 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 firm has a market capitalization of $90.12 million and a PE ratio of -1.09. The firm has a 50-day moving average price of $1.86 and a 200 day moving average price of $2.40. Acumen Pharmaceuticals has a 52-week low of $1.46 and a 52-week high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted 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 in the previous year, the business earned ($0.24) EPS. On average, sell-side analysts anticipate that Acumen Pharmaceuticals will post -1.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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