Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell Sells 47,778 Shares

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 47,778 shares of Acumen Pharmaceuticals stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total transaction of $87,911.52. Following the completion of the sale, the chief executive officer now directly owns 454,707 shares of the company’s stock, valued at $836,660.88. The trade was a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Acumen Pharmaceuticals Price Performance

ABOS opened at $1.83 on Wednesday. Acumen Pharmaceuticals, Inc. has a 1 year low of $1.69 and a 1 year high of $5.09. The company’s 50 day simple moving average is $2.27 and its 200 day simple moving average is $2.52. The stock has a market capitalization of $109.95 million, a PE ratio of -1.33 and a beta of 0.02. 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 (NASDAQ:ABOS) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same period in the prior year, the firm earned ($0.24) EPS. As a group, sell-side analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in Acumen Pharmaceuticals during the second quarter worth about $306,000. Rhumbline Advisers acquired a new stake in Acumen Pharmaceuticals during the 2nd quarter worth approximately $127,000. American Century Companies Inc. increased its position in Acumen Pharmaceuticals by 31.3% during the 2nd quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock worth $110,000 after purchasing an additional 10,840 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Acumen Pharmaceuticals in the second quarter valued at approximately $818,000. Finally, Murchinson Ltd. acquired a new position in Acumen Pharmaceuticals during the second quarter valued at approximately $136,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Acumen Pharmaceuticals in a research 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.