Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS – Get Free Report) Director Derrell Porter sold 6,460 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $2.35, for a total value of $15,181.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at 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 value 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
Acumen Pharmaceuticals stock opened at $2.26 on Friday. The firm has a 50 day moving average price of $2.45 and a 200-day moving average price of $2.43. Acumen Pharmaceuticals, Inc. has a twelve month low of $1.10 and a twelve month high of $3.60. The company has a market capitalization of $163.24 million, a P/E ratio of -1.22 and a beta of 0.34. The company has a quick ratio of 4.55, a current ratio of 4.55 and a debt-to-equity ratio of 0.19.
Analysts Set New Price Targets
Several brokerages have recently weighed in on ABOS. BTIG Research reiterated a “buy” rating and set a $8.00 price target on shares of Acumen Pharmaceuticals in a research report on Thursday, March 26th. Wall Street Zen cut 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 research report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Acumen Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $8.00.
Get Our Latest Stock Report on ABOS
Hedge Funds Weigh In On Acumen Pharmaceuticals
A number of institutional investors and hedge funds have recently made changes to their positions in the business. ADAR1 Capital Management LLC increased its position in Acumen Pharmaceuticals by 142.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 2,156,334 shares of the company’s stock valued at $5,089,000 after buying an additional 1,265,151 shares in the last quarter. Hudson Bay Capital Management LP raised its holdings in Acumen Pharmaceuticals by 7.1% in the second quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock worth $957,000 after buying an additional 55,004 shares during the last quarter. SG Americas Securities LLC lifted its position in Acumen Pharmaceuticals by 79.3% in the 1st quarter. SG Americas Securities LLC now owns 719,257 shares of the company’s stock valued at $1,697,000 after acquiring an additional 318,210 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Acumen Pharmaceuticals by 12.0% during the first quarter. Renaissance Technologies LLC now owns 473,946 shares of the company’s stock valued at $1,119,000 after purchasing an additional 50,846 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Acumen Pharmaceuticals by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 410,206 shares of the company’s stock valued at $866,000 after acquiring an additional 11,428 shares during the period. Institutional investors 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.
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