Charles Schwab Investment Management Inc. Acquires 18,004 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

Charles Schwab Investment Management Inc. increased its holdings in shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 126,747 shares of the company’s stock after acquiring an additional 18,004 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.21% of Acumen Pharmaceuticals worth $218,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC grew its position in shares of Acumen Pharmaceuticals by 44.2% during the 4th quarter. SG Americas Securities LLC now owns 25,631 shares of the company’s stock worth $44,000 after purchasing an additional 7,859 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Acumen Pharmaceuticals by 252.8% in the third quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company’s stock valued at $156,000 after buying an additional 45,189 shares during the period. Franklin Resources Inc. grew its position in Acumen Pharmaceuticals by 5.4% during the third quarter. Franklin Resources Inc. now owns 3,549,069 shares of the company’s stock worth $8,340,000 after buying an additional 181,451 shares in the last quarter. Barclays PLC increased its stake in 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 acquiring an additional 40,551 shares during the period. Finally, Geode Capital Management LLC increased its stake in Acumen Pharmaceuticals by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock worth $2,144,000 after acquiring an additional 52,395 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Activity

In related news, CFO Matt Zuga sold 28,902 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total transaction of $49,711.44. Following the sale, the chief financial officer now owns 231,744 shares of the company’s stock, valued at $398,599.68. This trade represents a 11.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Daniel Joseph Oconnell sold 47,778 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $1.84, for a total value of $87,911.52. Following the sale, the chief executive officer now owns 454,707 shares in the company, valued at $836,660.88. This represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,526 shares of company stock worth $233,124. Corporate insiders own 7.10% of the company’s stock.

Acumen Pharmaceuticals Stock Down 2.3 %

NASDAQ ABOS opened at $1.08 on Wednesday. The business has a fifty day moving average price of $1.35 and a two-hundred day moving average price of $1.96. The stock has a market capitalization of $64.59 million, a PE ratio of -0.78 and a beta of 0.02. Acumen Pharmaceuticals, Inc. has a fifty-two week low of $1.06 and a fifty-two week high of $4.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.15). Equities analysts expect that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. UBS Group reduced their target price on Acumen Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, March 28th. HC Wainwright cut their price objective on shares of Acumen Pharmaceuticals from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, March 28th.

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.