Insider Selling: Acumen Pharmaceuticals (NASDAQ:ABOS) Insider Sells $13,462.98 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) insider Eric Siemers sold 6,834 shares of Acumen Pharmaceuticals stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $1.97, for a total transaction of $13,462.98. Following the transaction, the insider directly owned 159,464 shares of the company’s stock, valued at approximately $314,144.08. This trade represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Eric Siemers also recently made the following trade(s):

• On Monday, January 5th, Eric Siemers sold 4,000 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.96, for a total transaction of $7,840.00.

Acumen Pharmaceuticals Price Performance

Shares of NASDAQ ABOS opened at $1.81 on Friday. The company has a 50 day simple moving average of $1.94 and a two-hundred day simple moving average of $1.68. Acumen Pharmaceuticals, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $2.46. The company has a market capitalization of $109.63 million, a price-to-earnings 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 (NASDAQ:ABOS) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.19. Analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Bank of America dropped their price target 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Tuesday, October 14th. Finally, Wall Street Zen upgraded shares of Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.75.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. bought a new position in Acumen Pharmaceuticals during the 3rd quarter valued at about $27,000. Marex Group plc bought a new position in Acumen Pharmaceuticals during the second quarter valued at approximately $39,000. AQR Capital Management LLC purchased a new stake in Acumen Pharmaceuticals in the first quarter worth approximately $46,000. Qube Research & Technologies Ltd boosted its holdings in Acumen Pharmaceuticals by 160.0% in the second quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock worth $67,000 after purchasing an additional 35,424 shares during the last quarter. Finally, Invesco Ltd. grew its position in Acumen Pharmaceuticals by 544.1% in the 1st quarter. Invesco Ltd. now owns 127,798 shares of the company’s stock worth $141,000 after purchasing an additional 107,956 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Acumen Pharmaceuticals Company Profile

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.