Insider Selling: Acumen Pharmaceuticals (NASDAQ:ABOS) CEO Sells $14,820.26 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 8,143 shares of Acumen Pharmaceuticals stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $1.82, for a total value of $14,820.26. Following the completion of the sale, the chief executive officer directly owned 611,839 shares in the company, valued at $1,113,546.98. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 value of $9,321.24.
• On Friday, January 9th, Daniel Joseph Oconnell sold 12,941 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.76, for a total value of $22,776.16.
• 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 value 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 value 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 value of $9,158.53.

Acumen Pharmaceuticals Trading Up 3.5%

Shares of ABOS opened at $1.79 on Thursday. The company’s fifty day moving average is $1.93 and its 200 day moving average is $1.69. Acumen Pharmaceuticals, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $2.46. The stock has a market capitalization of $108.42 million, a PE ratio of -0.81 and a beta of 0.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.02 and a current ratio of 6.02.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released 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. Sell-side analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of ABOS. Jacobs Levy Equity Management Inc. bought a new position in Acumen Pharmaceuticals in the 3rd quarter valued at $27,000. Marex Group plc purchased a new stake in shares of Acumen Pharmaceuticals during the second quarter valued at $39,000. Qube Research & Technologies Ltd grew its holdings in shares of Acumen Pharmaceuticals by 160.0% in 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. AQR Capital Management LLC purchased a new position in Acumen Pharmaceuticals in the 1st quarter worth about $46,000. Finally, Susquehanna International Group LLP lifted its holdings in Acumen Pharmaceuticals by 26.5% during the 3rd quarter. Susquehanna International Group LLP now owns 214,440 shares of the company’s stock valued at $367,000 after buying an additional 44,902 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABOS. Wall Street Zen raised Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Bank of America cut their target price 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research note on Friday, January 9th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Acumen Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target 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.