Acumen Pharmaceuticals (NASDAQ:ABOS) Director Sells $30,383.20 in Stock

by · The Markets Daily

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS – Get Free Report) Director Derrell Porter sold 13,040 shares of Acumen Pharmaceuticals stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $2.33, for a total transaction of $30,383.20. Following the transaction, the director directly owned 35,500 shares of the company’s stock, valued at approximately $82,715. This trade represents a 26.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Derrell Porter also recently made the following trade(s):

  • On Tuesday, June 16th, Derrell Porter sold 12,800 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $2.33, for a total transaction of $29,824.00.
  • On Monday, June 15th, Derrell Porter sold 6,460 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $2.35, for a total transaction of $15,181.00.

Acumen Pharmaceuticals Stock Performance

ABOS stock traded down $0.04 during midday trading on Wednesday, reaching $2.25. 947,529 shares of the company were exchanged, compared to its average volume of 621,699. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.55 and a quick ratio of 4.55. The business has a 50-day moving average price of $2.48 and a two-hundred day moving average price of $2.43. Acumen Pharmaceuticals, Inc. has a one year low of $1.10 and a one year high of $3.60. The firm has a market capitalization of $162.52 million, a price-to-earnings ratio of -1.21 and a beta of 0.34.

Acumen Pharmaceuticals (NASDAQ:ABOS – Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. Equities research analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.39 EPS for the current year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ABOS. Jacobs Levy Equity Management Inc. bought a new stake in Acumen Pharmaceuticals during the third quarter worth about $27,000. Sei Investments Co. bought a new stake in Acumen Pharmaceuticals during the first quarter worth about $27,000. Marex Group plc bought a new stake in Acumen Pharmaceuticals during the second quarter worth about $39,000. Independent Advisor Alliance bought a new stake in Acumen Pharmaceuticals during the fourth quarter worth about $40,000. Finally, PFG Investments LLC lifted its position in Acumen Pharmaceuticals by 65.2% during the fourth quarter. PFG Investments LLC now owns 19,000 shares of the company’s stock worth $40,000 after purchasing an additional 7,500 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ABOS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Wednesday, April 8th. Wall Street Zen cut shares of Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, BTIG Research reissued a “buy” rating and issued a $8.00 target price on shares of Acumen Pharmaceuticals in a research report on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Acumen Pharmaceuticals has an average rating of “Hold” and a consensus price target of $8.00.

View Our Latest Report on Acumen Pharmaceuticals

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.

Featured Articles