Acumen Pharmaceuticals (NASDAQ:ABOS) Issues Quarterly Earnings Results

Acumen Pharmaceuticals (NASDAQ:ABOS) issued its earnings results on Thursday. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.15), Zacks reports.

Acumen Pharmaceuticals Stock Up 5.9 %

Shares of Acumen Pharmaceuticals stock traded up $0.07 during trading on Thursday, hitting $1.23. 72,140 shares of the stock traded hands, compared to its average volume of 285,899. Acumen Pharmaceuticals has a 52-week low of $1.10 and a 52-week high of $4.28. The stock’s fifty day simple moving average is $1.39 and its 200 day simple moving average is $2.00. The firm has a market cap of $73.84 million, a P/E ratio of -0.89 and a beta of 0.02. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14.

Insiders Place Their Bets

In other Acumen Pharmaceuticals news, CFO Matt Zuga sold 28,902 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total transaction of $49,711.44. Following the completion of the sale, the chief financial officer now owns 231,744 shares in the company, valued at $398,599.68. This represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Joseph Oconnell sold 47,778 shares of Acumen Pharmaceuticals stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $1.84, for a total value of $87,911.52. Following the completion of the transaction, the chief executive officer now owns 454,707 shares in the company, valued at $836,660.88. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,526 shares of company stock worth $233,124 in the last three months. Corporate insiders own 7.10% of the company’s stock.

About Acumen Pharmaceuticals

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops targeted therapies for the treatment of Alzheimer’s disease. The company focuses on advancing a targeted immunotherapy drug candidate sabirnetug (ACU193), a recombinant humanized immunoglobulin gamma 2 that completed Phase I clinical trial to target soluble amyloid-beta oligomers.