Acumen Pharmaceuticals (NASDAQ:ABOS) Director Derrell Porter Sells 6,460 Shares of Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Director Derrell Porter sold 6,460 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $2.35, for a total transaction of $15,181.00. Following the completion of the sale, the director owned 48,300 shares in the company, valued at approximately $113,505. This trade represents a 11.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 transaction 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 Stock Performance

Shares of Acumen Pharmaceuticals stock opened at $2.25 on Thursday. The firm has a market cap of $162.51 million, a PE ratio of -1.21 and a beta of 0.34. The firm’s 50-day simple moving average is $2.47 and its 200-day simple moving average is $2.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.55 and a current ratio of 4.55. Acumen Pharmaceuticals, Inc. has a 1 year low of $1.10 and a 1 year high of $3.60.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. Equities analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. ADAR1 Capital Management LLC grew its position in Acumen Pharmaceuticals by 142.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 2,156,334 shares of the company’s stock worth $5,089,000 after purchasing an additional 1,265,151 shares during the last quarter. Hudson Bay Capital Management LP increased its stake in shares of Acumen Pharmaceuticals by 7.1% in 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 during the period. SG Americas Securities LLC increased its stake in shares of Acumen Pharmaceuticals by 79.3% in the first quarter. SG Americas Securities LLC now owns 719,257 shares of the company’s stock valued at $1,697,000 after purchasing an additional 318,210 shares during the period. Renaissance Technologies LLC increased its stake in shares of Acumen Pharmaceuticals by 12.0% in 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 during the period. Finally, Geode Capital Management LLC increased its stake in shares of Acumen Pharmaceuticals by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 410,206 shares of the company’s stock valued at $866,000 after purchasing an additional 11,428 shares during the period. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

ABOS has been the subject of a number of recent research reports. BTIG Research reaffirmed a “buy” rating and set a $8.00 price objective on shares of Acumen Pharmaceuticals in a research report on Thursday, March 26th. Wall Street Zen downgraded shares of Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Acumen Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $8.00.

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.