SG Americas Securities LLC Grows Stock Holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

SG Americas Securities LLC grew its stake in shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 44.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,631 shares of the company’s stock after buying an additional 7,859 shares during the period. SG Americas Securities LLC’s holdings in Acumen Pharmaceuticals were worth $44,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Acumen Pharmaceuticals by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock valued at $2,144,000 after buying an additional 52,395 shares during the last quarter. State Street Corp boosted its holdings in Acumen Pharmaceuticals by 18.3% during the third quarter. State Street Corp now owns 516,406 shares of the company’s stock worth $1,281,000 after buying an additional 79,841 shares in the last quarter. Barclays PLC boosted its holdings in Acumen Pharmaceuticals by 189.1% during the third quarter. Barclays PLC now owns 61,997 shares of the company’s stock worth $154,000 after buying an additional 40,551 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Acumen Pharmaceuticals by 252.8% during the third quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company’s stock worth $156,000 after buying an additional 45,189 shares in the last quarter. Finally, FMR LLC boosted its stake in Acumen Pharmaceuticals by 0.3% in 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 period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Matt Zuga sold 28,902 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $1.72, for a total value of $49,711.44. Following the completion of the transaction, the chief financial officer now owns 231,744 shares in the company, valued at $398,599.68. This represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel Joseph Oconnell sold 47,778 shares of the 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 transaction, the chief executive officer now owns 454,707 shares of the company’s stock, valued at $836,660.88. The trade was a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,526 shares of company stock valued at $233,124 over the last ninety days. Insiders own 7.10% of the company’s stock.

Analyst Ratings Changes

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

Acumen Pharmaceuticals Stock Performance

Shares of ABOS opened at $1.45 on Friday. The company has a market capitalization of $87.12 million, a PE ratio of -1.05 and a beta of -0.01. Acumen Pharmaceuticals, Inc. has a one year low of $1.28 and a one 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 company’s fifty day moving average price is $1.71 and its 200 day moving average price is $2.30.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its earnings results 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 quarter last year, the business posted ($0.24) EPS. As a group, analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

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.