Acumen Pharmaceuticals (NASDAQ:ABOS) Issues Earnings Results, Misses Estimates By $0.15 EPS

Acumen Pharmaceuticals (NASDAQ:ABOS) announced its quarterly earnings data on Thursday. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.15), Zacks reports.

Acumen Pharmaceuticals Price Performance

ABOS opened at $1.23 on Friday. Acumen Pharmaceuticals has a 1 year low of $1.10 and a 1 year high of $4.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43. The company has a market capitalization of $73.90 million, a price-to-earnings ratio of -0.89 and a beta of 0.02. The firm’s fifty day moving average price is $1.39 and its two-hundred day moving average price is $2.00.

Insider Activity

In other news, CFO Matt Zuga sold 28,902 shares of the firm’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 of the company’s stock, valued at $398,599.68. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel Joseph Oconnell sold 47,778 shares of Acumen Pharmaceuticals 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 in the company, valued at $836,660.88. The trade was a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,526 shares of company stock worth $233,124 over the last quarter. Insiders own 7.10% of the company’s stock.

Acumen Pharmaceuticals Company Profile

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.