Acumen Pharmaceuticals (NASDAQ:ABOS) CEO Daniel Joseph Oconnell Sells 9,346 Shares of Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 9,346 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $1.81, for a total transaction of $16,916.26. Following the transaction, the chief executive officer directly owned 883,964 shares of the company’s stock, valued at $1,599,974.84. The trade was a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Daniel Joseph Oconnell also recently made the following trade(s):

• On Thursday, January 22nd, Daniel Joseph Oconnell sold 2,689 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.88, for a total transaction of $5,055.32.
• On Monday, January 12th, Daniel Joseph Oconnell sold 5,388 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.73, for a total transaction of $9,321.24.
• On Friday, January 9th, Daniel Joseph Oconnell sold 12,941 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.76, for a total transaction of $22,776.16.
• On Thursday, January 8th, Daniel Joseph Oconnell sold 8,143 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.82, for a total value of $14,820.26.
• On Wednesday, January 7th, Daniel Joseph Oconnell sold 37,755 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.99, for a total value of $75,132.45.
• On Tuesday, January 6th, Daniel Joseph Oconnell sold 5,102 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.97, for a total value of $10,050.94.
• On Monday, January 5th, Daniel Joseph Oconnell sold 4,649 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.97, for a total value of $9,158.53.

Acumen Pharmaceuticals Trading Down 0.5%

Acumen Pharmaceuticals stock opened at $1.98 on Friday. The business has a 50-day simple moving average of $1.93 and a two-hundred day simple moving average of $1.73. The company has a market cap of $119.93 million, a P/E ratio of -0.89 and a beta of 0.23. Acumen Pharmaceuticals, Inc. has a 52-week low of $0.86 and a 52-week high of $2.46. 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 (NASDAQ:ABOS) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.19. Analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. purchased a new stake in Acumen Pharmaceuticals in the 3rd quarter worth $27,000. Marex Group plc bought a new position in shares of Acumen Pharmaceuticals in the second quarter worth about $39,000. AQR Capital Management LLC purchased a new stake in shares of Acumen Pharmaceuticals during the first quarter worth about $46,000. Qube Research & Technologies Ltd raised 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 purchasing an additional 35,424 shares during the period. Finally, Marshall Wace LLP purchased a new position in Acumen Pharmaceuticals in the 2nd quarter worth approximately $160,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

ABOS has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research note on Friday, January 9th. Wall Street Zen upgraded Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. Finally, Bank of America cut their price target on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.75.

Acumen Pharmaceuticals Company Profile

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.