Daniel Joseph Oconnell Sells 9,346 Shares of Acumen Pharmaceuticals (NASDAQ:ABOS) Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 9,346 shares of Acumen Pharmaceuticals stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $1.81, for a total value of $16,916.26. Following the completion of the transaction, the chief executive officer owned 883,964 shares of the company’s stock, valued at approximately $1,599,974.84. This trade represents a 1.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, January 22nd, Daniel Joseph Oconnell sold 2,689 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.88, for a total value of $5,055.32.
• 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 transaction of $9,321.24.
• On Friday, January 9th, Daniel Joseph Oconnell sold 12,941 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.76, for a total transaction of $22,776.16.
• On Thursday, January 8th, Daniel Joseph Oconnell sold 8,143 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.82, for a total transaction of $14,820.26.
• 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 transaction of $75,132.45.
• On Tuesday, January 6th, Daniel Joseph Oconnell sold 5,102 shares of Acumen Pharmaceuticals stock. The stock was sold at an average price of $1.97, for a total transaction of $10,050.94.
• On Monday, January 5th, Daniel Joseph Oconnell sold 4,649 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.97, for a total value of $9,158.53.

Acumen Pharmaceuticals Trading Down 0.5%

Shares of NASDAQ ABOS opened at $1.98 on Friday. Acumen Pharmaceuticals, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $2.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.02 and a current ratio of 6.02. The company has a market cap of $119.93 million, a price-to-earnings ratio of -0.89 and a beta of 0.23. The business’s 50 day moving average price is $1.93 and its 200-day moving average price is $1.73.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.19. On average, sell-side analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Hudson Bay Capital Management LP raised its stake 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 in the last quarter. SG Americas Securities LLC purchased a new position in shares of Acumen Pharmaceuticals in the 3rd quarter valued at $691,000. Y Intercept Hong Kong Ltd bought a new position in shares of Acumen Pharmaceuticals in the 2nd quarter worth $291,000. Susquehanna International Group LLP lifted its stake in shares of Acumen Pharmaceuticals by 26.5% during the 3rd quarter. Susquehanna International Group LLP now owns 214,440 shares of the company’s stock worth $367,000 after purchasing an additional 44,902 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Acumen Pharmaceuticals by 45.4% during the 3rd quarter. Bank of America Corp DE now owns 213,729 shares of the company’s stock worth $365,000 after purchasing an additional 66,720 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABOS. Bank of America lowered their price objective on shares of Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Wall Street Zen raised shares of Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Friday, January 9th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Acumen Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.75.

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.