SG Americas Securities LLC Boosts Holdings in Acumen Pharmaceuticals, Inc. $ABOS

SG Americas Securities LLC grew its stake in shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 79.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 719,257 shares of the company’s stock after purchasing an additional 318,210 shares during the period. SG Americas Securities LLC’s holdings in Acumen Pharmaceuticals were worth $1,697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC bought a new position in Acumen Pharmaceuticals in the first quarter worth about $46,000. Marshall Wace LLP purchased a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth approximately $160,000. Qube Research & Technologies Ltd grew its holdings in shares of Acumen Pharmaceuticals by 160.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock worth $67,000 after acquiring an additional 35,424 shares during the period. Jane Street Group LLC raised its position in shares of Acumen Pharmaceuticals by 1,526.0% in the 2nd quarter. Jane Street Group LLC now owns 175,670 shares of the company’s stock worth $204,000 after acquiring an additional 164,866 shares in the last quarter. Finally, Hudson Bay Capital Management LP raised its position in shares of Acumen Pharmaceuticals by 7.1% in the 2nd quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock worth $957,000 after acquiring an additional 55,004 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Activity at Acumen Pharmaceuticals

In other news, Director Derrell Porter sold 13,040 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $2.33, for a total value of $30,383.20. Following the sale, the director directly owned 35,500 shares of the company’s stock, valued at $82,715. The trade was a 26.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 38,700 shares of company stock valued at $89,660. Insiders own 10.20% of the company’s stock.

Acumen Pharmaceuticals Trading Up 5.8%

NASDAQ:ABOS opened at $2.74 on Friday. Acumen Pharmaceuticals, Inc. has a one year low of $1.13 and a one year high of $3.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.55 and a quick ratio of 4.55. The company’s 50-day simple moving average is $2.42 and its 200 day simple moving average is $2.47. The firm has a market capitalization of $197.91 million, a P/E ratio of -1.47 and a beta of 0.34.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. As a group, analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ABOS shares. Wall Street Zen cut Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. BTIG Research reaffirmed a “buy” rating and issued a $8.00 price target on shares of Acumen Pharmaceuticals in a research note on Thursday, March 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.00.

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.