SG Americas Securities LLC Increases Stake in Acumen Pharmaceuticals, Inc. $ABOS

SG Americas Securities LLC lifted its holdings in shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 79.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 719,257 shares of the company’s stock after purchasing an additional 318,210 shares during the period. SG Americas Securities LLC owned about 1.00% of Acumen Pharmaceuticals worth $1,697,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in Acumen Pharmaceuticals in the fourth quarter worth $105,000. Quadrature Capital Ltd bought a new position in shares of Acumen Pharmaceuticals during the fourth quarter valued at about $103,000. OMERS ADMINISTRATION Corp bought a new position in shares of Acumen Pharmaceuticals during the fourth quarter valued at about $47,000. Marshall Wace LLP purchased a new position in shares of Acumen Pharmaceuticals in the fourth quarter worth about $44,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Acumen Pharmaceuticals by 12.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 49,062 shares of the company’s stock worth $104,000 after buying an additional 5,538 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABOS. BTIG Research restated a “buy” rating and set a $8.00 target price on shares of Acumen Pharmaceuticals in a report on Thursday, March 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research note on Wednesday, April 8th. Finally, Wall Street Zen cut Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Two equities research 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 has a consensus rating of “Hold” and a consensus price target of $8.00.

Insiders Place Their Bets

In other news, Director Derrell Porter sold 13,040 shares of Acumen Pharmaceuticals stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $2.33, for a total value of $30,383.20. Following the sale, the director directly owned 35,500 shares in the company, valued at approximately $82,715. This trade represents a 26.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 38,700 shares of company stock valued at $89,660. Company insiders own 10.20% of the company’s stock.

Acumen Pharmaceuticals Price Performance

ABOS stock opened at $2.74 on Friday. The firm’s 50-day moving average price is $2.42 and its two-hundred day moving average price is $2.47. Acumen Pharmaceuticals, Inc. has a 12-month low of $1.13 and a 12-month high of $3.60. The stock has a market capitalization of $197.91 million, a price-to-earnings ratio of -1.47 and a beta of 0.34. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.19.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. As a group, equities analysts predict that Acumen Pharmaceuticals, Inc. will post -1.39 earnings per share for the current year.

Acumen Pharmaceuticals 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.