Insider Selling: Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Sells 28,902 Shares of Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 28,902 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total value of $49,711.44. Following the sale, the chief financial officer now directly owns 231,744 shares of the company’s stock, valued at $398,599.68. This trade 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 accessible through this link.

Matt Zuga also recently made the following trade(s):

• On Tuesday, January 21st, Matt Zuga sold 4,364 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.60, for a total value of $6,982.40.
• On Friday, January 3rd, Matt Zuga sold 13,235 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.84, for a total transaction of $24,352.40.

Acumen Pharmaceuticals Stock Down 1.1 %

Shares of NASDAQ ABOS traded down $0.02 during mid-day trading on Thursday, reaching $1.73. 335,357 shares of the company traded hands, compared to its average volume of 378,633. The company’s fifty day moving average is $1.96 and its two-hundred day moving average is $2.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.43 and a current ratio of 10.43. Acumen Pharmaceuticals, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $5.09. The stock has a market cap of $103.94 million, a PE ratio of -1.25 and a beta of 0.02.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ABOS. FMR LLC grew its position in shares of Acumen Pharmaceuticals by 0.3% in the third quarter. FMR LLC now owns 2,028,117 shares of the company’s stock valued at $5,030,000 after purchasing an additional 6,014 shares during the last quarter. SG Americas Securities LLC boosted its stake in Acumen Pharmaceuticals by 44.2% during the 4th quarter. SG Americas Securities LLC now owns 25,631 shares of the company’s stock valued at $44,000 after purchasing an additional 7,859 shares during the period. American Century Companies Inc. grew its holdings in Acumen Pharmaceuticals by 31.3% in the 2nd quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after buying an additional 10,840 shares during the last quarter. Barclays PLC increased its position in Acumen Pharmaceuticals by 189.1% in the 3rd quarter. Barclays PLC now owns 61,997 shares of the company’s stock worth $154,000 after buying an additional 40,551 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Acumen Pharmaceuticals by 252.8% during the third quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company’s stock worth $156,000 after buying an additional 45,189 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.