Short Interest in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Expands By 9.1%

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,560,000 shares, a growth of 9.1% from the December 15th total of 1,430,000 shares. Based on an average trading volume of 276,000 shares, the short-interest ratio is currently 5.7 days. Approximately 3.5% of the company’s shares are short sold.

Insiders Place Their Bets

In other news, CEO Daniel Joseph Oconnell sold 47,778 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total transaction of $87,911.52. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 79,508 shares of company stock valued at $146,556. Company insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Acumen Pharmaceuticals in the 3rd quarter worth approximately $44,000. American Century Companies Inc. grew its position in Acumen Pharmaceuticals by 31.3% in the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock worth $110,000 after buying an additional 10,840 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Acumen Pharmaceuticals in the second quarter valued at $127,000. Murchinson Ltd. bought a new position in shares of Acumen Pharmaceuticals in the second quarter valued at $136,000. Finally, Barclays PLC lifted its position in shares of Acumen Pharmaceuticals by 189.1% during the 3rd quarter. Barclays PLC now owns 61,997 shares of the company’s stock valued at $154,000 after acquiring an additional 40,551 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Acumen Pharmaceuticals Stock Up 2.5 %

NASDAQ ABOS opened at $1.65 on Monday. Acumen Pharmaceuticals has a fifty-two week low of $1.53 and a fifty-two week high of $5.09. The stock has a market cap of $99.13 million, a PE ratio of -1.20 and a beta of 0.02. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $2.05 and a two-hundred day moving average price of $2.48.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its earnings results on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same period in the prior year, the business posted ($0.24) earnings per share. As a group, sell-side analysts predict that Acumen Pharmaceuticals will post -1.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Acumen Pharmaceuticals

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.