Matt Zuga Sells 13,235 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 13,235 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $1.84, for a total transaction of $24,352.40. Following the transaction, the chief financial officer now owns 198,210 shares in the company, valued at $364,706.40. This trade represents a 6.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Acumen Pharmaceuticals Trading Down 1.1 %

Shares of Acumen Pharmaceuticals stock traded down $0.02 on Tuesday, hitting $1.83. 184,478 shares of the company traded hands, compared to its average volume of 247,994. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. The company has a market cap of $109.95 million, a PE ratio of -1.33 and a beta of 0.02. The stock’s 50 day moving average price is $2.27 and its 200-day moving average price is $2.52. Acumen Pharmaceuticals, Inc. has a 52 week low of $1.69 and a 52 week high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same quarter in the previous year, the company posted ($0.24) EPS. Equities research analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Acumen Pharmaceuticals in a research note on Wednesday, November 13th.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several institutional investors have recently bought and sold shares of ABOS. Renaissance Technologies LLC acquired a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter worth $818,000. Franklin Resources Inc. grew its holdings in shares of Acumen Pharmaceuticals by 5.4% during the third quarter. Franklin Resources Inc. now owns 3,549,069 shares of the company’s stock valued at $8,340,000 after buying an additional 181,451 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Acumen Pharmaceuticals in the 2nd quarter valued at $306,000. State Street Corp lifted its position in Acumen Pharmaceuticals by 18.3% during the 3rd quarter. State Street Corp now owns 516,406 shares of the company’s stock worth $1,281,000 after acquiring an additional 79,841 shares during the period. Finally, Murchinson Ltd. acquired a new position in shares of Acumen Pharmaceuticals in the second quarter valued at about $136,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Acumen Pharmaceuticals Company Profile

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.