Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Shares Sold by Rock Springs Capital Management LP

Rock Springs Capital Management LP lowered its holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,838,916 shares of the company’s stock after selling 461,143 shares during the period. Rock Springs Capital Management LP’s holdings in Acumen Pharmaceuticals were worth $3,163,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ABOS. Clune & Associates LTD. purchased a new position in Acumen Pharmaceuticals in the fourth quarter valued at about $28,000. Intech Investment Management LLC acquired a new position in Acumen Pharmaceuticals during the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC lifted its position in Acumen Pharmaceuticals by 427.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 20,624 shares of the company’s stock worth $35,000 after acquiring an additional 16,714 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Acumen Pharmaceuticals by 44.2% in the 4th quarter. SG Americas Securities LLC now owns 25,631 shares of the company’s stock worth $44,000 after acquiring an additional 7,859 shares during the period. Finally, Barclays PLC grew its position in Acumen Pharmaceuticals by 189.1% in the third quarter. Barclays PLC now owns 61,997 shares of the company’s stock valued at $154,000 after acquiring an additional 40,551 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Buying and Selling

In other news, CFO Matt Zuga sold 28,902 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total transaction of $49,711.44. Following the transaction, the chief financial officer now owns 231,744 shares of the company’s stock, valued at approximately $398,599.68. This represents a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 52,018 shares of company stock worth $86,568. Corporate insiders own 7.10% of the company’s stock.

Analyst Upgrades and Downgrades

ABOS has been the topic of a number of analyst reports. UBS Group dropped their target price on Acumen Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. HC Wainwright decreased their target price on shares of Acumen Pharmaceuticals from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, March 28th.

Acumen Pharmaceuticals Stock Performance

ABOS opened at $0.90 on Monday. 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 cap of $54.56 million, a PE ratio of -0.65 and a beta of 0.10. The business has a fifty day simple moving average of $1.20 and a 200-day simple moving average of $1.81. Acumen Pharmaceuticals, Inc. has a fifty-two week low of $0.87 and a fifty-two week high of $3.92.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.15). As a group, equities analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

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.