Acumen Pharmaceuticals (NASDAQ:ABOS) Posts Quarterly Earnings Results

Acumen Pharmaceuticals (NASDAQ:ABOS) issued its quarterly earnings data on Thursday. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.15), Zacks reports.

Acumen Pharmaceuticals Stock Performance

NASDAQ ABOS opened at $1.19 on Thursday. 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 has a 1-year low of $1.10 and a 1-year high of $4.28. The business has a 50 day simple moving average of $1.39 and a two-hundred day simple moving average of $2.00. The stock has a market capitalization of $71.50 million, a PE ratio of -0.88 and a beta of 0.02.

Insider Transactions at Acumen Pharmaceuticals

In other Acumen Pharmaceuticals news, CFO Matt Zuga sold 28,902 shares of the business’s stock in a transaction that occurred 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 directly owns 231,744 shares of the company’s stock, valued at $398,599.68. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Daniel Joseph Oconnell sold 47,778 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were 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 approximately $836,660.88. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 131,526 shares of company stock valued at $233,124 in the last ninety days. Corporate insiders own 7.10% of the company’s stock.

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.