Insider Selling: Acumen Pharmaceuticals (NASDAQ:ABOS) Insider Sells 6,467 Shares of Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) insider James Doherty sold 6,467 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $1.82, for a total value of $11,769.94. Following the sale, the insider directly owned 54,033 shares of the company’s stock, valued at approximately $98,340.06. This represents a 10.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Acumen Pharmaceuticals Trading Down 2.7%

ABOS traded down $0.05 during trading on Friday, reaching $1.81. The company had a trading volume of 284,595 shares, compared to its average volume of 263,872. The firm’s 50-day simple moving average is $1.95 and its 200 day simple moving average is $1.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.02 and a current ratio of 6.02. The company has a market cap of $109.63 million, a price-to-earnings ratio of -0.82 and a beta of 0.23. Acumen Pharmaceuticals, Inc. has a 12-month low of $0.86 and a 12-month high of $2.46.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.19. Equities research analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Acumen Pharmaceuticals during the third quarter valued at approximately $691,000. Y Intercept Hong Kong Ltd bought a new stake in Acumen Pharmaceuticals in the second quarter worth approximately $291,000. Jane Street Group LLC increased its stake in shares of Acumen Pharmaceuticals by 1,526.0% during the 2nd quarter. Jane Street Group LLC now owns 175,670 shares of the company’s stock worth $204,000 after purchasing an additional 164,866 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth $160,000. Finally, Bridgeway Capital Management LLC raised its holdings in shares of Acumen Pharmaceuticals by 65.1% during the 3rd quarter. Bridgeway Capital Management LLC now owns 190,171 shares of the company’s stock valued at $325,000 after purchasing an additional 75,000 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABOS. Wall Street Zen raised shares of Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Bank of America lowered their price target on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Acumen Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $6.75.

About Acumen Pharmaceuticals

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.