Matt Zuga Sells 13,235 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 13,235 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $1.84, for a total value of $24,352.40. Following the sale, the chief financial officer now directly owns 198,210 shares of the company’s stock, valued at approximately $364,706.40. This represents a 6.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Acumen Pharmaceuticals Trading Down 1.1 %

NASDAQ ABOS opened at $1.83 on Wednesday. The firm’s 50 day moving average price is $2.27 and its two-hundred day moving average price is $2.52. 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, Inc. has a twelve month low of $1.69 and a twelve month high of $5.09. The stock has a market cap of $109.95 million, a price-to-earnings ratio of -1.33 and a beta of 0.02.

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 the consensus estimate of ($0.36) by ($0.14). During the same quarter in the previous year, the business earned ($0.24) earnings per share. Equities analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Acumen Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ABOS. State Street Corp grew its position in Acumen Pharmaceuticals by 18.3% during the third quarter. State Street Corp now owns 516,406 shares of the company’s stock valued at $1,281,000 after purchasing an additional 79,841 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter valued at $818,000. FMR LLC grew its holdings in shares of Acumen Pharmaceuticals by 0.3% during the 3rd quarter. FMR LLC now owns 2,028,117 shares of the company’s stock valued at $5,030,000 after acquiring an additional 6,014 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Acumen Pharmaceuticals by 31.3% in the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock worth $110,000 after acquiring an additional 10,840 shares during the last quarter. Finally, Rhumbline Advisers purchased a new stake in shares of Acumen Pharmaceuticals during the second quarter worth $127,000. 71.01% of the stock is owned by hedge funds and other 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.