Acumen Pharmaceuticals (NASDAQ:ABOS) CEO Daniel Joseph Oconnell Sells 12,941 Shares

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 12,941 shares of Acumen Pharmaceuticals stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $1.76, for a total value of $22,776.16. Following the transaction, the chief executive officer owned 598,898 shares of the company’s stock, valued at approximately $1,054,060.48. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 stock was sold at an average price of $1.73, for a total value 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 stock was 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 shares were sold at an average price of $1.97, for a total transaction of $9,158.53.

Acumen Pharmaceuticals Price Performance

Shares of Acumen Pharmaceuticals stock traded down $0.09 during trading hours on Monday, reaching $1.72. The stock had a trading volume of 302,203 shares, compared to its average volume of 269,914. The stock’s 50 day moving average is $1.94 and its 200 day moving average is $1.69. The company has a current ratio of 6.02, a quick ratio of 6.02 and a debt-to-equity ratio of 0.29. Acumen Pharmaceuticals, Inc. has a twelve month low of $0.86 and a twelve month high of $2.46. The firm has a market capitalization of $104.18 million, a PE ratio of -0.77 and a beta of 0.23.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ABOS. Bank of America dropped their price target on shares of Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Tuesday, October 14th. Finally, Wall Street Zen upgraded shares of Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.75.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. purchased a new position in Acumen Pharmaceuticals during the third quarter worth approximately $27,000. Marex Group plc purchased a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth $39,000. AQR Capital Management LLC acquired a new position in shares of Acumen Pharmaceuticals during the 1st quarter valued at about $46,000. Qube Research & Technologies Ltd increased its position in Acumen Pharmaceuticals by 160.0% during the second quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock worth $67,000 after purchasing an additional 35,424 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Acumen Pharmaceuticals during the second quarter worth about $160,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

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.