Acumen Pharmaceuticals (NASDAQ:ABOS) CEO Daniel Joseph Oconnell Sells 12,941 Shares of Stock

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) CEO Daniel Joseph Oconnell sold 12,941 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $1.76, for a total transaction of $22,776.16. Following the completion of the transaction, the chief executive officer owned 598,898 shares in the company, valued at $1,054,060.48. The trade was a 2.12% decrease in their ownership of the stock. The transaction 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 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 transaction of $9,321.24.
• 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 value 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 value 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 value 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 value of $9,158.53.

Acumen Pharmaceuticals Stock Down 5.0%

ABOS stock opened at $1.72 on Tuesday. Acumen Pharmaceuticals, Inc. has a twelve month low of $0.86 and a twelve month high of $2.46. The company has a quick ratio of 6.02, a current ratio of 6.02 and a debt-to-equity ratio of 0.29. The stock has a market cap of $104.18 million, a P/E ratio of -0.77 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 $1.69.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its earnings results on Wednesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.19. On average, equities research analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

More Acumen Pharmaceuticals News

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

• Positive Sentiment: Analysts: ABOS carries a consensus “Moderate Buy” from analysts, which is supportive for the stock and may limit downside if clinical or corporate news is constructive. Article Title
• Neutral Sentiment: Short-interest report shows effectively zero short interest as of Jan. 12, but the published entry contains inconsistent/NaN figures — the data appears unreliable and likely doesn’t explain today’s move. Monitor future short-interest updates for clarity.
• Negative Sentiment: Insider selling: Several senior executives sold shares between Jan. 8–12. CEO Daniel O’Connell sold a total of 26,472 shares across three trades (avg. prices ~$1.73–$1.82), COO Russell Barton sold 3,530 shares (avg. $1.86) and CFO Matt Zuga sold 6,888 shares (avg. $1.82). Combined, executives sold roughly ~37k shares for roughly ~$66k in proceeds. While insiders still hold large positions (CEO still owns ~593k shares valued at ~ $1.0M), the cluster of recent sales can be perceived negatively by the market and likely contributed to downward pressure. Filing: SEC Form 4

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Friday. Finally, Bank of America dropped their price objective on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.75.

Institutional Trading of Acumen Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in shares of Acumen Pharmaceuticals during the first quarter valued at about $46,000. Y Intercept Hong Kong Ltd bought a new position in Acumen Pharmaceuticals during the second quarter valued at approximately $291,000. Marshall Wace LLP purchased a new position in Acumen Pharmaceuticals during the 2nd quarter valued at approximately $160,000. Qube Research & Technologies Ltd increased its stake in Acumen Pharmaceuticals by 160.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock worth $67,000 after acquiring an additional 35,424 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Acumen Pharmaceuticals by 1,526.0% during the 2nd quarter. Jane Street Group LLC now owns 175,670 shares of the company’s stock worth $204,000 after acquiring an additional 164,866 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.