Acumen Pharmaceuticals (NASDAQ:ABOS) CFO Matt Zuga Sells 5,805 Shares of Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CFO Matt Zuga sold 5,805 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $1.99, for a total transaction of $11,551.95. Following the completion of the transaction, the chief financial officer owned 216,839 shares in the company, valued at approximately $431,509.61. This trade represents a 2.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Matt Zuga also recently made the following trade(s):

• On Tuesday, January 6th, Matt Zuga sold 5,100 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.97, for a total transaction of $10,047.00.
• On Monday, January 5th, Matt Zuga sold 4,000 shares of Acumen Pharmaceuticals stock. The shares were sold at an average price of $1.96, for a total transaction of $7,840.00.

Acumen Pharmaceuticals Stock Up 1.5%

NASDAQ:ABOS opened at $1.99 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.02 and a quick ratio of 6.02. The company’s fifty day moving average price is $1.96 and its 200-day moving average price is $1.67. Acumen Pharmaceuticals, Inc. has a 1-year low of $0.86 and a 1-year high of $2.46. The firm has a market capitalization of $120.53 million, a P/E ratio of -0.90 and a beta of 0.23.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.19. As a group, equities research analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Acumen Pharmaceuticals News Summary

Here are the key news stories impacting Acumen Pharmaceuticals this week:

• Negative Sentiment: CEO Daniel J. O’Connell sold three blocks between Jan. 5–7 totaling 47,506 shares (largest single-day block ~37,755 on Jan. 7), reducing his stake by ~5.7% and raising roughly $75k on the largest sale. CEO still holds a sizable position (~620k shares). SEC Filing
• Negative Sentiment: CFO Matt Zuga sold three tranches on Jan. 5–7 totaling 14,905 shares (~1.73%–2.61% reductions per trade), raising roughly $29k across the period and leaving him with ~216k–227k shares. SEC Filing
• Negative Sentiment: COO Russell Barton sold three tranches on Jan. 5–7 totaling 9,318 shares, trimming his holding by a few percent and raising roughly $18k. SEC Filing
• Negative Sentiment: Insider Eric Siemers sold two tranches (4,000 and 6,834 shares) on Jan. 5–6, reducing his stake by ~2–4% and raising ~ $21k. SEC Filing

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in ABOS. Hudson Bay Capital Management LP increased its stake in shares of Acumen Pharmaceuticals by 7.1% in the 2nd quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock worth $957,000 after acquiring an additional 55,004 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Acumen Pharmaceuticals in the third quarter valued at about $691,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at about $291,000. Susquehanna International Group LLP increased its position in Acumen Pharmaceuticals by 26.5% during the third 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 raised its stake in Acumen Pharmaceuticals by 45.4% during the third 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 period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Bank of America dropped their price target on shares of Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Tuesday, October 14th. Finally, Wall Street Zen raised shares of Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Acumen Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $6.75.

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.