Insider Selling: Acumen Pharmaceuticals (NASDAQ:ABOS) Director Sells $14,272.00 in Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Director Nathan Fountain sold 6,400 shares of Acumen Pharmaceuticals stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $2.23, for a total value of $14,272.00. Following the sale, the director directly owned 48,150 shares of the company’s stock, valued at $107,374.50. This represents a 11.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Acumen Pharmaceuticals Price Performance

NASDAQ:ABOS opened at $2.37 on Friday. The firm has a market capitalization of $171.19 million, a price-to-earnings ratio of -1.27 and a beta of 0.34. Acumen Pharmaceuticals, Inc. has a 52-week low of $1.05 and a 52-week high of $3.60. The stock has a fifty day moving average of $2.49 and a 200 day moving average of $2.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.55 and a current ratio of 4.55.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.07. On average, research analysts expect that Acumen Pharmaceuticals, Inc. will post -1.39 EPS for the current fiscal year.

Analyst Ratings Changes

ABOS has been the subject of several research analyst reports. BTIG Research reaffirmed a “buy” rating and set a $8.00 price target on shares of Acumen Pharmaceuticals in a research note on Thursday, March 26th. Wall Street Zen lowered Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research note on Wednesday, April 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Sei Investments Co. purchased a new position in shares of Acumen Pharmaceuticals in the first quarter worth about $27,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Acumen Pharmaceuticals in the third quarter worth about $27,000. Independent Advisor Alliance purchased a new position in shares of Acumen Pharmaceuticals in the fourth quarter worth about $40,000. PFG Investments LLC increased its holdings in shares of Acumen Pharmaceuticals by 65.2% in the fourth quarter. PFG Investments LLC now owns 19,000 shares of the company’s stock worth $40,000 after buying an additional 7,500 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Acumen Pharmaceuticals in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

About Acumen Pharmaceuticals

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.