Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS – Get Free Report) Director Derrell Porter sold 12,800 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $2.33, for a total value of $29,824.00. Following the completion of the sale, the director directly owned 35,500 shares of the company’s stock, valued at approximately $82,715. This trade represents a 26.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $2.33, for a total value of $30,383.20.
- 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 value of $15,181.00.
Acumen Pharmaceuticals Price Performance
ABOS opened at $2.25 on Thursday. The stock has a market cap of $162.51 million, a price-to-earnings ratio of -1.21 and a beta of 0.34. Acumen Pharmaceuticals, Inc. has a 1 year low of $1.10 and a 1 year high of $3.60. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $2.47 and a 200 day moving average price of $2.43.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on ABOS. BTIG Research restated a “buy” rating and set a $8.00 price target on shares of Acumen Pharmaceuticals in a research note on Thursday, March 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research note on Wednesday, April 8th. Finally, Wall Street Zen lowered Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Acumen Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $8.00.
Get Our Latest Analysis on Acumen Pharmaceuticals
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. bought a new stake in Acumen Pharmaceuticals in the third quarter valued at about $27,000. Sei Investments Co. bought a new stake in Acumen Pharmaceuticals in the first quarter valued at about $27,000. Marex Group plc bought a new stake in Acumen Pharmaceuticals in the second quarter valued at about $39,000. Independent Advisor Alliance bought a new stake in Acumen Pharmaceuticals in the fourth quarter valued at about $40,000. Finally, PFG Investments LLC increased its holdings in Acumen Pharmaceuticals by 65.2% in the fourth quarter. PFG Investments LLC now owns 19,000 shares of the company’s stock valued at $40,000 after purchasing an additional 7,500 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.
About Acumen Pharmaceuticals
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
- Five stocks we like better than Acumen Pharmaceuticals
- 2 Quantum Stocks Are Drawing Capital as AI Infrastructure Hits a Wall
- After an Initial Panic, Wall Street’s Leaning Into Apple’s New Siri AI
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
Receive News & Ratings for Acumen Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acumen Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.
