Acumen Pharmaceuticals (NASDAQ:ABOS) Director Sells $14,272.00 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Director Nathan Fountain sold 6,400 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $2.23, for a total value of $14,272.00. Following the completion of the sale, the director owned 48,150 shares in the company, valued at $107,374.50. The trade was a 11.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Acumen Pharmaceuticals Stock Up 2.3%

NASDAQ ABOS traded up $0.05 during trading on Wednesday, hitting $2.24. The stock had a trading volume of 445,521 shares, compared to its average volume of 628,944. The company has a market capitalization of $161.80 million, a PE ratio of -1.20 and a beta of 0.34. The company’s 50-day moving average price is $2.50 and its two-hundred day moving average price is $2.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.55 and a current ratio of 4.55. Acumen Pharmaceuticals, Inc. has a 12 month low of $1.05 and a 12 month high of $3.60.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in Acumen Pharmaceuticals by 12.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 49,062 shares of the company’s stock valued at $104,000 after buying an additional 5,538 shares in the last quarter. OMERS ADMINISTRATION Corp grew its holdings in Acumen Pharmaceuticals by 27.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 28,600 shares of the company’s stock valued at $67,000 after buying an additional 6,146 shares in the last quarter. PFG Investments LLC grew its holdings in Acumen Pharmaceuticals by 65.2% in the 4th quarter. PFG Investments LLC now owns 19,000 shares of the company’s stock valued at $40,000 after buying an additional 7,500 shares in the last quarter. Geode Capital Management LLC grew its holdings in Acumen Pharmaceuticals by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 410,206 shares of the company’s stock valued at $866,000 after buying an additional 11,428 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in Acumen Pharmaceuticals in the 1st quarter valued at $27,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABOS has been the topic of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $8.00 price target on shares of Acumen Pharmaceuticals in a research report on Thursday, March 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Wednesday, April 8th. Finally, Wall Street Zen raised Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.67.

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.