Daniel Joseph Oconnell Sells 8,143 Shares of Acumen Pharmaceuticals (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 8,143 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $1.82, for a total transaction of $14,820.26. Following the sale, the chief executive officer owned 611,839 shares of the company’s stock, valued at $1,113,546.98. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 value of $9,321.24.
• On Friday, January 9th, Daniel Joseph Oconnell sold 12,941 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.76, for a total value of $22,776.16.
• On Wednesday, January 7th, Daniel Joseph Oconnell sold 37,755 shares of Acumen Pharmaceuticals stock. The shares were 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 stock was sold at an average price of $1.97, for a total value of $9,158.53.

Acumen Pharmaceuticals Stock Performance

Shares of Acumen Pharmaceuticals stock traded down $0.09 during trading on Monday, reaching $1.72. The company’s stock had a trading volume of 302,203 shares, compared to its average volume of 269,914. The company has a quick ratio of 6.02, a current ratio of 6.02 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $1.94 and its 200-day moving average price is $1.69. Acumen Pharmaceuticals, Inc. has a 52 week low of $0.86 and a 52 week high of $2.46. The firm has a market cap of $104.18 million, a PE ratio of -0.77 and a beta of 0.23.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.19. Equities analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABOS has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Tuesday, October 14th. Bank of America cut their target price on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Finally, Wall Street Zen upgraded Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.75.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ABOS. SG Americas Securities LLC bought a new position in shares of Acumen Pharmaceuticals in the third quarter worth about $691,000. Y Intercept Hong Kong Ltd acquired a new position in Acumen Pharmaceuticals during the 2nd quarter worth approximately $291,000. Jane Street Group LLC lifted its stake in Acumen Pharmaceuticals by 1,526.0% in the 2nd quarter. Jane Street Group LLC now owns 175,670 shares of the company’s stock valued at $204,000 after purchasing an additional 164,866 shares during the last quarter. Marshall Wace LLP acquired a new stake in Acumen Pharmaceuticals in the second quarter valued at approximately $160,000. Finally, Bridgeway Capital Management LLC boosted its position in Acumen Pharmaceuticals by 65.1% in the third quarter. Bridgeway Capital Management LLC now owns 190,171 shares of the company’s stock valued at $325,000 after buying an additional 75,000 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.