Daniel Joseph Oconnell Sells 47,778 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 47,778 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $1.84, for a total value of $87,911.52. Following the completion of the sale, the chief executive officer now owns 454,707 shares of the company’s stock, valued at approximately $836,660.88. This trade represents 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 the SEC website.

Acumen Pharmaceuticals Price Performance

Shares of NASDAQ:ABOS opened at $1.70 on Thursday. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $102.14 million, a PE ratio of -1.23 and a beta of 0.02. The firm has a 50 day moving average of $2.25 and a 200-day moving average of $2.51. Acumen Pharmaceuticals, Inc. has a 12 month low of $1.69 and a 12 month high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same quarter last year, the business posted ($0.24) EPS. On average, equities research analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Institutional Trading of Acumen Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Acumen Pharmaceuticals in the third quarter valued at about $44,000. American Century Companies Inc. boosted its stake in shares of Acumen Pharmaceuticals by 31.3% in the 2nd quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after purchasing an additional 10,840 shares in the last quarter. Rhumbline Advisers bought a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter valued at approximately $127,000. Murchinson Ltd. acquired a new position in Acumen Pharmaceuticals during the 2nd quarter worth approximately $136,000. Finally, Barclays PLC lifted its stake 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 purchasing an additional 40,551 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Acumen Pharmaceuticals in a research 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.