Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) COO Sells $14,202.96 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) COO Russell Barton sold 7,636 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $1.86, for a total transaction of $14,202.96. Following the completion of the transaction, the chief operating officer now owns 89,231 shares of the company’s stock, valued at approximately $165,969.66. The trade was a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Acumen Pharmaceuticals Stock Down 7.1 %

NASDAQ ABOS opened at $1.70 on Friday. Acumen Pharmaceuticals, Inc. has a 12 month low of $1.69 and a 12 month high of $5.09. 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 stock has a market cap of $102.14 million, a PE ratio of -1.23 and a beta of 0.02. The stock’s 50 day moving average is $2.22 and its 200 day moving average is $2.50.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its earnings results on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same period in the previous year, the firm earned ($0.24) EPS. Research analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Acumen Pharmaceuticals in a report on Wednesday, November 13th.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Large investors have recently bought and sold shares of the business. Franklin Resources Inc. increased its stake in Acumen Pharmaceuticals by 5.4% during the third quarter. Franklin Resources Inc. now owns 3,549,069 shares of the company’s stock worth $8,340,000 after acquiring an additional 181,451 shares during the last quarter. FMR LLC increased its stake in Acumen Pharmaceuticals by 0.3% in the third quarter. FMR LLC now owns 2,028,117 shares of the company’s stock worth $5,030,000 after purchasing an additional 6,014 shares during the period. Geode Capital Management LLC increased its stake in Acumen Pharmaceuticals by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock worth $2,144,000 after buying an additional 52,395 shares during the period. State Street Corp boosted its position in Acumen Pharmaceuticals by 18.3% in the 3rd quarter. State Street Corp now owns 516,406 shares of the company’s stock valued at $1,281,000 after buying an additional 79,841 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Acumen Pharmaceuticals in the 2nd quarter worth about $818,000. Institutional investors own 71.01% 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.