Key Points
- Acumen Pharmaceuticals director Derrell Porter sold 13,040 shares on June 17 at an average price of $2.33, generating $30,383.20. After the sale, he still held 35,500 shares, a 26.86% reduction in his position.
- Porter also sold shares in the prior two trading sessions, including 12,800 shares on June 16 and 6,460 shares on June 15, both at around $2.33 to $2.35 per share.
- The company recently reported a smaller-than-expected quarterly loss of $0.33 per share versus the $0.40 consensus, while analysts currently have a Hold rating on average with an $8.00 price target.
Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) Director Derrell Porter sold 6,460 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $2.35, for a total transaction of $15,181.00. Following the completion of the sale, the director owned 48,300 shares in the company, valued at $113,505. The trade was a 11.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Derrell Porter also recently made the following trade(s):
- On Wednesday, June 17th, Derrell Porter sold 13,040 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $2.33, for a total transaction of $30,383.20.
- On Tuesday, June 16th, Derrell Porter sold 12,800 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $2.33, for a total transaction of $29,824.00.
Acumen Pharmaceuticals Price Performance
Shares of NASDAQ:ABOS opened at $2.25 on Thursday. The firm's 50 day moving average is $2.47 and its two-hundred day moving average is $2.43. Acumen Pharmaceuticals, Inc. has a 52 week low of $1.10 and a 52 week high of $3.60. The firm has a market capitalization of $162.51 million, a P/E ratio of -1.21 and a beta of 0.34. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.19.
Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.07. Analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.39 earnings per share for the current year.
Institutional Trading of Acumen Pharmaceuticals
Several institutional investors and hedge funds have recently added to or reduced their stakes in ABOS. ADAR1 Capital Management LLC lifted its stake in Acumen Pharmaceuticals by 142.0% during the first quarter. ADAR1 Capital Management LLC now owns 2,156,334 shares of the company's stock valued at $5,089,000 after purchasing an additional 1,265,151 shares during the last quarter. SG Americas Securities LLC lifted its stake in Acumen Pharmaceuticals by 79.3% during the first quarter. SG Americas Securities LLC now owns 719,257 shares of the company's stock valued at $1,697,000 after purchasing an additional 318,210 shares during the last quarter. Jane Street Group LLC lifted its stake in 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 purchasing an additional 164,866 shares during the last quarter. Marshall Wace LLP acquired a new stake in Acumen Pharmaceuticals during the second quarter valued at approximately $160,000. Finally, Bank of America Corp DE lifted its stake in Acumen Pharmaceuticals by 33.3% during the first quarter. Bank of America Corp DE now owns 320,216 shares of the company's stock valued at $756,000 after purchasing an additional 80,064 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ABOS has been the subject of several recent analyst reports. BTIG Research reiterated a "buy" rating and issued a $8.00 price objective on shares of Acumen Pharmaceuticals in a report on Thursday, March 26th. Wall Street Zen cut shares of Acumen Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Acumen Pharmaceuticals in a report on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $8.00.
Read Our Latest Report on Acumen Pharmaceuticals
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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