Acumen Pharmaceuticals (NASDAQ:ABOS) Director Nathan Fountain Sells 6,400 Shares

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Director Nathan Fountain sold 6,400 shares of Acumen Pharmaceuticals stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $2.23, for a total value of $14,272.00. Following the completion of the sale, the director directly owned 48,150 shares in the company, valued at approximately $107,374.50. The trade was a 11.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Acumen Pharmaceuticals Stock Performance

Shares of NASDAQ:ABOS opened at $2.24 on Thursday. Acumen Pharmaceuticals, Inc. has a 52 week low of $1.05 and a 52 week high of $3.60. The stock has a market capitalization of $161.80 million, a P/E ratio of -1.20 and a beta of 0.34. The firm has a fifty day simple moving average of $2.50 and a two-hundred day simple moving average of $2.41. The company has a quick ratio of 4.55, a current ratio of 4.55 and a debt-to-equity ratio of 0.19.

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

Hedge Funds Weigh In On Acumen Pharmaceuticals

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABOS. BTIG Research reiterated a “buy” rating and issued a $8.00 target price on shares of Acumen Pharmaceuticals in a report on Thursday, March 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Wednesday, April 8th. Finally, Wall Street Zen upgraded 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.