Acumen Pharmaceuticals (NASDAQ:ABOS) Posts Earnings Results

Acumen Pharmaceuticals (NASDAQ:ABOS) released its quarterly earnings results on Tuesday. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.09), FiscalAI reports.

Acumen Pharmaceuticals Stock Performance

Shares of NASDAQ ABOS opened at $2.51 on Thursday. The company has a quick ratio of 4.55, a current ratio of 4.55 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $181.30 million, a price-to-earnings ratio of -1.35 and a beta of 0.36. The stock’s fifty day simple moving average is $2.36 and its 200 day simple moving average is $2.55. Acumen Pharmaceuticals has a 52-week low of $1.21 and a 52-week high of $3.60.

Insider Buying and Selling at Acumen Pharmaceuticals

In related news, Director Derrell Porter sold 13,040 shares of Acumen Pharmaceuticals stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $2.33, for a total value of $30,383.20. Following the transaction, the director owned 35,500 shares of the company’s stock, valued at approximately $82,715. This trade represents a 26.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 38,700 shares of company stock valued at $89,660. Company insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Acumen Pharmaceuticals in the 3rd quarter valued at approximately $27,000. Marshall Wace LLP purchased a new stake in shares of Acumen Pharmaceuticals in the fourth quarter valued at $44,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Acumen Pharmaceuticals in the fourth quarter worth $47,000. Marex Group plc acquired a new stake in shares of Acumen Pharmaceuticals in the second quarter worth $39,000. Finally, AQR Capital Management LLC purchased a new position in shares of Acumen Pharmaceuticals during the first quarter valued at $46,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ABOS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Monday, July 6th. Wall Street Zen lowered shares of Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

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.