James Doherty Sells 6,467 Shares of Acumen Pharmaceuticals (NASDAQ:ABOS) Stock

by · The Markets Daily

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS – Get Free Report) insider James Doherty sold 6,467 shares of the company’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $1.82, for a total transaction of $11,769.94. Following the completion of the transaction, the insider owned 54,033 shares of the company’s stock, valued at approximately $98,340.06. This trade represents a 10.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Acumen Pharmaceuticals Stock Performance

Shares of ABOS traded down $0.05 during mid-day trading on Friday, reaching $1.81. 284,595 shares of the company’s stock traded hands, compared to its average volume of 263,872. The business’s 50-day moving average price is $1.95 and its 200-day moving average price is $1.68. The stock has a market capitalization of $109.63 million, a P/E ratio of -0.82 and a beta of 0.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.02 and a current ratio of 6.02. Acumen Pharmaceuticals, Inc. has a 12 month low of $0.86 and a 12 month high of $2.46.

Acumen Pharmaceuticals (NASDAQ:ABOS – Get Free Report) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.19. Equities analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Analyst Ratings Changes

ABOS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Bank of America lowered their target price on shares of Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research note on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.75.

Check Out Our Latest Analysis on ABOS

Hedge Funds Weigh In On Acumen Pharmaceuticals

Several large investors have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in shares of Acumen Pharmaceuticals in the 1st quarter worth approximately $46,000. Y Intercept Hong Kong Ltd acquired a new position in Acumen Pharmaceuticals in the second quarter worth approximately $291,000. Marshall Wace LLP bought a new position in shares of Acumen Pharmaceuticals in the second quarter valued at $160,000. Qube Research & Technologies Ltd increased its holdings in shares of Acumen Pharmaceuticals by 160.0% in the second quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock valued at $67,000 after buying an additional 35,424 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Acumen Pharmaceuticals by 1,526.0% during the 2nd quarter. Jane Street Group LLC now owns 175,670 shares of the company’s stock valued at $204,000 after acquiring an additional 164,866 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

About Acumen Pharmaceuticals

(Get Free Report)

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.

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