Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS – Get Free Report) Director Derrell Porter sold 13,040 shares of Acumen Pharmaceuticals stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $2.33, for a total transaction of $30,383.20. Following the completion of the sale, the director owned 35,500 shares in the company, valued at $82,715. This trade represents a 26.86% 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 hyperlink.
Derrell Porter also recently made the following trade(s):
- 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.
- On Monday, June 15th, Derrell Porter sold 6,460 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $2.35, for a total transaction of $15,181.00.
Acumen Pharmaceuticals Stock Down 1.7%
Shares of NASDAQ ABOS traded down $0.04 during midday trading on Wednesday, reaching $2.25. The company’s stock had a trading volume of 947,529 shares, compared to its average volume of 621,699. 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, Inc. has a fifty-two week low of $1.10 and a fifty-two week high of $3.60. The stock has a market capitalization of $162.52 million, a price-to-earnings ratio of -1.21 and a beta of 0.34. The stock has a 50 day simple moving average of $2.48 and a 200-day simple moving average of $2.43.
Hedge Funds Weigh In On Acumen Pharmaceuticals
A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings 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 worth $756,000 after buying an additional 80,064 shares during the last quarter. ADAR1 Capital Management LLC increased its holdings 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 worth $5,089,000 after buying an additional 1,265,151 shares during the last quarter. Rangeley Capital LLC acquired a new position in Acumen Pharmaceuticals during the first quarter worth $83,000. OMERS ADMINISTRATION Corp increased its holdings in Acumen Pharmaceuticals by 27.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 28,600 shares of the company’s stock worth $67,000 after buying an additional 6,146 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Acumen Pharmaceuticals by 12.0% during the first quarter. Renaissance Technologies LLC now owns 473,946 shares of the company’s stock worth $1,119,000 after buying an additional 50,846 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on ABOS shares. Wall Street Zen downgraded shares of Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday. BTIG Research restated a “buy” rating and set a $8.00 target price on shares of Acumen Pharmaceuticals in a report on Thursday, March 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.00.
Check Out Our Latest Stock Report on Acumen Pharmaceuticals
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.
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