Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) COO Russell Barton sold 7,636 shares of the company's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $1.86, for a total value of $14,202.96. Following the sale, the chief operating officer now owns 89,231 shares of the company's stock, valued at $165,969.66. This trade represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Acumen Pharmaceuticals Price Performance
NASDAQ ABOS opened at $1.83 on Wednesday. The firm's fifty day simple moving average is $2.27 and its two-hundred day simple moving average is $2.52. The firm has a market capitalization of $109.95 million, a P/E ratio of -1.33 and a beta of 0.02. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. Acumen Pharmaceuticals, Inc. has a 12-month low of $1.69 and a 12-month high of $5.09.
Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last announced its 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 period in the previous year, the firm posted ($0.24) earnings per share. Analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.
Hedge Funds Weigh In On Acumen Pharmaceuticals
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Several hedge funds have recently modified their holdings of ABOS. Renaissance Technologies LLC acquired a new stake in Acumen Pharmaceuticals in the 2nd quarter worth approximately $818,000. Franklin Resources Inc. raised its holdings in shares of Acumen Pharmaceuticals by 5.4% in the third quarter. Franklin Resources Inc. now owns 3,549,069 shares of the company's stock worth $8,340,000 after buying an additional 181,451 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Acumen Pharmaceuticals in the second quarter worth $306,000. State Street Corp lifted its stake in shares of Acumen Pharmaceuticals by 18.3% during the third quarter. State Street Corp now owns 516,406 shares of the company's stock worth $1,281,000 after buying an additional 79,841 shares during the period. Finally, Murchinson Ltd. purchased a new stake in shares of Acumen Pharmaceuticals during the second quarter valued at $136,000. Institutional investors and hedge funds own 71.01% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reissued a "buy" rating and set a $15.00 price target on shares of Acumen Pharmaceuticals in a research report on Wednesday, November 13th.
Check Out Our Latest Report on Acumen Pharmaceuticals
Acumen Pharmaceuticals Company Profile
(
Get Free Report)
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.
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