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 on Wednesday, January 21st. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 shares were 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 shares were sold at an average price of $1.76, for a total value 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 shares were 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 stock was sold at an average price of $1.97, for a total transaction of $9,158.53.

Acumen Pharmaceuticals Price Performance

NASDAQ ABOS traded down $0.01 on Friday, hitting $1.98. The stock had a trading volume of 141,306 shares, compared to its average volume of 221,134. The firm has a 50-day moving average of $1.92 and a 200-day moving average of $1.72. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.02 and a current ratio of 6.02. Acumen Pharmaceuticals, Inc. has a 52-week low of $0.86 and a 52-week high of $2.46. The company has a market capitalization of $119.93 million, a price-to-earnings ratio of -0.89 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) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.19. Equities analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Wall Street Analysts Forecast Growth

ABOS has been the topic of several recent analyst reports. Bank of America lowered their price target on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a 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 reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research note on Friday, January 9th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Acumen Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $6.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. purchased a new position in shares of Acumen Pharmaceuticals during the third quarter worth approximately $27,000. Susquehanna International Group LLP boosted its stake in shares of Acumen Pharmaceuticals by 26.5% in the 3rd quarter. Susquehanna International Group LLP now owns 214,440 shares of the company’s stock valued at $367,000 after purchasing an additional 44,902 shares in the last quarter. Bank of America Corp DE grew its holdings 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 valued at $365,000 after purchasing an additional 66,720 shares during the last quarter. Bridgeway Capital Management LLC raised its position in Acumen Pharmaceuticals by 65.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 190,171 shares of the company’s stock worth $325,000 after purchasing an additional 75,000 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Acumen Pharmaceuticals in the 3rd quarter worth $691,000. 71.01% of the stock is currently owned by institutional investors.

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.