Insider Selling: Acumen Pharmaceuticals (NASDAQ:ABOS) CFO Sells $10,047.00 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 5,100 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 $10,047.00. Following the completion of the transaction, the chief financial officer owned 222,644 shares in the company, valued at $438,608.68. This trade represents a 2.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Matt Zuga also recently made the following trade(s):

• On Wednesday, January 7th, Matt Zuga sold 5,805 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.99, for a total transaction of $11,551.95.
• On Monday, January 5th, Matt Zuga sold 4,000 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.96, for a total value of $7,840.00.

Acumen Pharmaceuticals Trading Down 2.7%

Acumen Pharmaceuticals stock opened at $1.81 on Friday. Acumen Pharmaceuticals, Inc. has a 52 week low of $0.86 and a 52 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 has a market capitalization of $109.63 million, a PE ratio of -0.82 and a beta of 0.23. The business’s 50-day simple moving average is $1.94 and its 200-day simple moving average is $1.68.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Acumen Pharmaceuticals in the 3rd quarter valued at $691,000. Y Intercept Hong Kong Ltd bought a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth about $291,000. Jane Street Group LLC boosted its position 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 valued at $204,000 after acquiring an additional 164,866 shares in the last quarter. Marshall Wace LLP bought a new stake in Acumen Pharmaceuticals in the second quarter valued at about $160,000. Finally, Invesco Ltd. raised its position in Acumen Pharmaceuticals by 544.1% in the first quarter. Invesco Ltd. now owns 127,798 shares of the company’s stock worth $141,000 after purchasing an additional 107,956 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ABOS. Bank of America dropped their target price on shares of Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Tuesday, October 14th. Finally, Wall Street Zen upgraded shares of Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Four 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.75.

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.