Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 6.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 864,528 shares of the company’s stock after acquiring an additional 52,395 shares during the period. Geode Capital Management LLC owned 1.44% of Acumen Pharmaceuticals worth $2,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Acumen Pharmaceuticals by 0.3% during the 3rd quarter. FMR LLC now owns 2,028,117 shares of the company’s stock worth $5,030,000 after purchasing an additional 6,014 shares during the last quarter. State Street Corp boosted its stake in shares of Acumen Pharmaceuticals by 18.3% during the 3rd quarter. State Street Corp now owns 516,406 shares of the company’s stock worth $1,281,000 after purchasing an additional 79,841 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter worth about $818,000. Bank of New York Mellon Corp acquired a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter worth about $306,000. Finally, Barclays PLC boosted its stake in shares of Acumen Pharmaceuticals by 189.1% during the 3rd quarter. Barclays PLC now owns 61,997 shares of the company’s stock worth $154,000 after purchasing an additional 40,551 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Acumen Pharmaceuticals

In other news, CEO Daniel Joseph Oconnell sold 47,778 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $1.84, for a total transaction of $87,911.52. Following the transaction, the chief executive officer now directly owns 454,707 shares in the company, valued at $836,660.88. This represents a 9.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 79,508 shares of company stock worth $146,556 in the last three months. Company insiders own 7.10% of the company’s stock.

Acumen Pharmaceuticals Trading Down 1.1 %

Shares of ABOS stock opened at $1.83 on Wednesday. The firm has a market cap of $109.95 million, a P/E ratio of -1.33 and a beta of 0.02. Acumen Pharmaceuticals, Inc. has a 1-year low of $1.69 and a 1-year high of $5.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43. The firm’s 50-day simple moving average is $2.27 and its 200-day simple moving average is $2.52.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same period last year, the firm posted ($0.24) EPS. As a group, equities analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Acumen Pharmaceuticals in a research note on Wednesday, November 13th.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops targeted therapies for the treatment of Alzheimer’s disease. The company focuses on advancing a targeted immunotherapy drug candidate sabirnetug (ACU193), a recombinant humanized immunoglobulin gamma 2 that completed Phase I clinical trial to target soluble amyloid-beta oligomers.