Key Points
- Insider sale: Director James Doherty sold 6,467 shares on Jan. 8 at an average price of $1.82 for $11,769.94, reducing his holding to 54,033 shares — a 10.69% decrease in ownership (SEC filing).
- Stock snapshot: ABOS opened at $1.81 and was down about 2.7%, trading between a 52-week low of $0.86 and high of $2.46, with a market cap of roughly $109.6 million and 50-/200-day moving averages of $1.94/$1.68.
- Market sentiment: Institutional investors own about 71.01% of the stock, analysts have a consensus "Moderate Buy" with a target of $6.75 (mixed ratings include Bank of America lowering its target to $8 but keeping a buy rating).
Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) insider James Doherty sold 6,467 shares of the firm's stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $1.82, for a total transaction of $11,769.94. Following the completion of the transaction, the insider directly owned 54,033 shares in the company, valued at approximately $98,340.06. This represents a 10.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Acumen Pharmaceuticals Stock Down 2.7%
NASDAQ ABOS opened at $1.81 on Friday. The company has a quick ratio of 6.02, a current ratio of 6.02 and a debt-to-equity ratio of 0.29. Acumen Pharmaceuticals, Inc. has a 52 week low of $0.86 and a 52 week high of $2.46. The business's fifty day simple moving average is $1.94 and its 200-day simple moving average is $1.68. The firm has a market cap of $109.63 million, a PE ratio of -0.82 and a beta of 0.23.
Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last posted its earnings results on Wednesday, November 12th. The company reported ($0.44) EPS for the quarter, beating analysts' consensus estimates of ($0.63) by $0.19. As a group, equities analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in ABOS. AQR Capital Management LLC bought a new stake in shares of Acumen Pharmaceuticals in the first quarter worth $46,000. Y Intercept Hong Kong Ltd bought a new position in Acumen Pharmaceuticals in the 2nd quarter worth about $291,000. Marshall Wace LLP acquired a new position in Acumen Pharmaceuticals during the 2nd quarter worth $160,000. Qube Research & Technologies Ltd increased its stake in Acumen Pharmaceuticals by 160.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company's stock valued at $67,000 after buying an additional 35,424 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of Acumen Pharmaceuticals by 1,526.0% during the second quarter. Jane Street Group LLC now owns 175,670 shares of the company's stock valued at $204,000 after acquiring an additional 164,866 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Acumen Pharmaceuticals from $9.00 to $8.00 and set a "buy" rating for the company in a report on Tuesday, November 18th. Weiss Ratings restated a "sell (d-)" rating on shares of Acumen Pharmaceuticals in a research note on Tuesday, October 14th. Finally, Wall Street Zen upgraded Acumen Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Sunday, December 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $6.75.
View Our Latest Stock Analysis on ABOS
About Acumen Pharmaceuticals
(
Get Free Report)
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.
Further Reading
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