Acumen Pharmaceuticals (NASDAQ:ABOS) Stock Price Down 4% – Here’s What Happened

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)’s stock price traded down 4% on Monday . The stock traded as low as $1.20 and last traded at $1.20. 276,202 shares changed hands during trading, a decline of 7% from the average session volume of 295,985 shares. The stock had previously closed at $1.25.

Analyst Upgrades and Downgrades

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

Acumen Pharmaceuticals Trading Down 4.0 %

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 $72.10 million, a P/E ratio of -0.87 and a beta of 0.02. The business has a 50 day moving average price of $1.51 and a 200-day moving average price of $2.12.

Insider Buying and Selling at Acumen Pharmaceuticals

In related news, CFO Matt Zuga sold 28,902 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total transaction of $49,711.44. Following the completion of the sale, the chief financial officer now directly owns 231,744 shares in the company, valued at $398,599.68. This represents a 11.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel Joseph Oconnell sold 47,778 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total value of $87,911.52. Following the sale, the chief executive officer now owns 454,707 shares of the company’s stock, valued at approximately $836,660.88. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,526 shares of company stock valued at $233,124 in the last ninety days. 7.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Acumen Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Advisers LP raised its position in Acumen Pharmaceuticals by 6.4% in the fourth quarter. Two Sigma Advisers LP now owns 499,100 shares of the company’s stock valued at $858,000 after purchasing an additional 30,000 shares during the last quarter. Deutsche Bank AG grew its stake in Acumen Pharmaceuticals by 468.7% during the fourth quarter. Deutsche Bank AG now owns 96,995 shares of the company’s stock worth $167,000 after purchasing an additional 79,940 shares during the period. Bank of America Corp DE grew its stake in Acumen Pharmaceuticals by 7.2% in the fourth quarter. Bank of America Corp DE now owns 148,668 shares of the company’s stock valued at $256,000 after acquiring an additional 9,944 shares during the period. Jane Street Group LLC grew its stake in Acumen Pharmaceuticals by 116.1% in the fourth quarter. Jane Street Group LLC now owns 30,740 shares of the company’s stock valued at $53,000 after acquiring an additional 221,144 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Acumen Pharmaceuticals in the fourth quarter valued at approximately $25,000. 71.01% of the stock is currently owned by institutional investors.

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.