Acumen Pharmaceuticals (NASDAQ:ABOS) CEO Sells $22,776.16 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 12,941 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $1.76, for a total transaction of $22,776.16. Following the sale, the chief executive officer directly owned 598,898 shares of the company’s stock, valued at approximately $1,054,060.48. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Daniel Joseph Oconnell also recently made the following trade(s):

• On Monday, January 12th, Daniel Joseph Oconnell sold 5,388 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.73, for a total transaction of $9,321.24.
• On Thursday, January 8th, Daniel Joseph Oconnell sold 8,143 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.82, for a total transaction of $14,820.26.
• On Wednesday, January 7th, Daniel Joseph Oconnell sold 37,755 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.99, for a total transaction of $75,132.45.
• On Tuesday, January 6th, Daniel Joseph Oconnell sold 5,102 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.97, for a total transaction of $10,050.94.
• On Monday, January 5th, Daniel Joseph Oconnell sold 4,649 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.97, for a total transaction of $9,158.53.

Acumen Pharmaceuticals Stock Performance

Shares of ABOS opened at $1.79 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.02 and a quick ratio of 6.02. The stock has a 50-day moving average of $1.93 and a 200-day moving average of $1.69. The company has a market cap of $108.42 million, a PE ratio of -0.81 and a beta of 0.23. Acumen Pharmaceuticals, Inc. has a one year low of $0.86 and a one year high of $2.46.

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

Hedge Funds Weigh In On Acumen Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Hudson Bay Capital Management LP boosted its holdings in Acumen Pharmaceuticals by 7.1% during the 2nd quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock worth $957,000 after acquiring an additional 55,004 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Acumen Pharmaceuticals in the third quarter valued at about $691,000. Y Intercept Hong Kong Ltd bought a new position in shares of Acumen Pharmaceuticals during the second quarter valued at about $291,000. Susquehanna International Group LLP boosted its holdings in Acumen Pharmaceuticals by 26.5% during the third quarter. Susquehanna International Group LLP now owns 214,440 shares of the company’s stock worth $367,000 after purchasing an additional 44,902 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Acumen Pharmaceuticals by 45.4% during the third quarter. Bank of America Corp DE now owns 213,729 shares of the company’s stock worth $365,000 after purchasing an additional 66,720 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABOS has been the topic of a number of recent research reports. Wall Street Zen upgraded Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Bank of America lowered their price objective on shares of 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 reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.