Key Points
- Acumen Pharmaceuticals director Nathan Fountain sold 6,400 shares on June 9 at an average price of $2.23, totaling $14,272. After the sale, he still held 48,150 shares, a decline of 11.73% in ownership.
- The stock was trading near $2.24 with a market cap of about $161.8 million. It has ranged from a 52-week low of $1.05 to a high of $3.60.
- Analysts remain mixed but generally constructive on ABOS, with a consensus rating of “Moderate Buy” and an average price target of $6.67. The company recently beat quarterly EPS estimates, reporting a loss of $0.33 per share versus expectations for a $0.40 loss.
Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) Director Nathan Fountain sold 6,400 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $2.23, for a total transaction of $14,272.00. Following the completion of the sale, the director directly owned 48,150 shares of the company's stock, valued at approximately $107,374.50. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Acumen Pharmaceuticals Price Performance
Acumen Pharmaceuticals stock opened at $2.24 on Thursday. The stock has a market cap of $161.80 million, a price-to-earnings ratio of -1.20 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.55 and a quick ratio of 4.55. Acumen Pharmaceuticals, Inc. has a 1 year low of $1.05 and a 1 year high of $3.60. The firm has a 50-day moving average of $2.50 and a two-hundred day moving average of $2.41.
Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last released 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 forecast that Acumen Pharmaceuticals, Inc. will post -1.39 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on ABOS shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Acumen Pharmaceuticals in a report on Wednesday, April 8th. BTIG Research reiterated a "buy" rating and issued a $8.00 target price on shares of Acumen Pharmaceuticals in a report on Thursday, March 26th. Finally, Wall Street Zen upgraded Acumen Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Sunday, March 29th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Acumen Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $6.67.
View Our Latest Stock Analysis on ABOS
Institutional Investors Weigh In On Acumen Pharmaceuticals
Hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new stake in Acumen Pharmaceuticals in the third quarter valued at approximately $27,000. Sei Investments Co. acquired a new stake in shares of Acumen Pharmaceuticals in the 1st quarter worth $27,000. Marex Group plc acquired a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter worth $39,000. Independent Advisor Alliance acquired a new stake in shares of Acumen Pharmaceuticals in the 4th quarter worth $40,000. Finally, PFG Investments LLC boosted its position in shares of Acumen Pharmaceuticals by 65.2% in the 4th quarter. PFG Investments LLC now owns 19,000 shares of the company's stock worth $40,000 after purchasing an additional 7,500 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.
Acumen Pharmaceuticals Company Profile
(
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.
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