Acumen Pharmaceuticals (NASDAQ:ABOS) CEO Daniel Joseph Oconnell Sells 5,102 Shares

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 5,102 shares of Acumen Pharmaceuticals stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $1.97, for a total transaction of $10,050.94. Following the transaction, the chief executive officer directly owned 657,737 shares in the company, valued at $1,295,741.89. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, January 7th, Daniel Joseph Oconnell sold 37,755 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.99, for a total transaction of $75,132.45.
• On Monday, January 5th, Daniel Joseph Oconnell sold 4,649 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.97, for a total transaction of $9,158.53.

Acumen Pharmaceuticals Stock Up 1.5%

Acumen Pharmaceuticals stock opened at $1.99 on Thursday. Acumen Pharmaceuticals, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $2.46. 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 firm’s 50-day simple moving average is $1.96 and its 200 day simple moving average is $1.67. The stock has a market cap of $120.53 million, a PE ratio of -0.90 and a beta of 0.23.

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

Key Acumen Pharmaceuticals News

Here are the key news stories impacting Acumen Pharmaceuticals this week:

• Negative Sentiment: CEO Daniel J. O’Connell sold three blocks between Jan. 5–7 totaling 47,506 shares (largest single-day block ~37,755 on Jan. 7), reducing his stake by ~5.7% and raising roughly $75k on the largest sale. CEO still holds a sizable position (~620k shares). SEC Filing
• Negative Sentiment: CFO Matt Zuga sold three tranches on Jan. 5–7 totaling 14,905 shares (~1.73%–2.61% reductions per trade), raising roughly $29k across the period and leaving him with ~216k–227k shares. SEC Filing
• Negative Sentiment: COO Russell Barton sold three tranches on Jan. 5–7 totaling 9,318 shares, trimming his holding by a few percent and raising roughly $18k. SEC Filing
• Negative Sentiment: Insider Eric Siemers sold two tranches (4,000 and 6,834 shares) on Jan. 5–6, reducing his stake by ~2–4% and raising ~ $21k. SEC Filing

Analyst Upgrades and Downgrades

ABOS has been the topic of several research analyst reports. Bank of America cut their price objective on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Wall Street Zen upgraded Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.75.

Institutional Trading of Acumen Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Hudson Bay Capital Management LP raised its stake in shares of Acumen Pharmaceuticals by 7.1% in the second quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock valued at $957,000 after buying an additional 55,004 shares during the period. SG Americas Securities LLC purchased a new stake in Acumen Pharmaceuticals in the 3rd quarter worth about $691,000. Y Intercept Hong Kong Ltd bought a new stake in Acumen Pharmaceuticals in the 2nd quarter valued at about $291,000. Susquehanna International Group LLP raised its stake in Acumen Pharmaceuticals by 26.5% in the 3rd quarter. Susquehanna International Group LLP now owns 214,440 shares of the company’s stock valued at $367,000 after acquiring an additional 44,902 shares during the period. Finally, Bank of America Corp DE lifted 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 valued at $365,000 after purchasing an additional 66,720 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.