SG Americas Securities LLC Makes New Investment in Acumen Pharmaceuticals, Inc. $ABOS

SG Americas Securities LLC purchased a new stake in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 403,878 shares of the company’s stock, valued at approximately $691,000. SG Americas Securities LLC owned about 0.67% of Acumen Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ABOS. Marex Group plc bought a new stake in Acumen Pharmaceuticals during the 2nd quarter worth $39,000. Hudson Bay Capital Management LP boosted its stake in shares of Acumen Pharmaceuticals by 7.1% during the second quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock valued at $957,000 after purchasing an additional 55,004 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Acumen Pharmaceuticals by 1,526.0% during the second quarter. Jane Street Group LLC now owns 175,670 shares of the company’s stock worth $204,000 after purchasing an additional 164,866 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Acumen Pharmaceuticals by 160.0% in the second quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock valued at $67,000 after buying an additional 35,424 shares during the period. Finally, Marshall Wace LLP bought a new position in Acumen Pharmaceuticals in the 2nd quarter valued at approximately $160,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ABOS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Friday, January 9th. 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, Bank of America lowered 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. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.75.

Insider Activity

In other news, CEO Daniel Joseph Oconnell sold 37,755 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $1.99, for a total transaction of $75,132.45. Following the completion of the sale, the chief executive officer owned 619,982 shares of the company’s stock, valued at $1,233,764.18. This trade represents a 5.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders sold 127,620 shares of company stock worth $244,607. 9.30% of the stock is currently owned by corporate insiders.

Acumen Pharmaceuticals Stock Performance

Shares of Acumen Pharmaceuticals stock opened at $1.81 on Thursday. The business has a 50-day moving average price of $1.92 and a two-hundred day moving average price of $1.72. Acumen Pharmaceuticals, Inc. has a 1-year low of $0.86 and a 1-year high of $2.46. The company has a current ratio of 6.02, a quick ratio of 6.02 and a debt-to-equity ratio of 0.29. The company has a market cap of $109.63 million, a P/E ratio of -0.82 and a beta of 0.23.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its 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, analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

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.