Short Interest in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Expands By 13.8%

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOSGet Free Report) saw a significant growth in short interest in the month of February. As of February 29th, there was short interest totalling 773,400 shares, a growth of 13.8% from the February 14th total of 679,700 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average daily volume of 440,000 shares, the days-to-cover ratio is presently 1.8 days.

Insider Buying and Selling at Acumen Pharmaceuticals

In other Acumen Pharmaceuticals news, CEO Daniel Joseph Oconnell sold 15,200 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $3.47, for a total value of $52,744.00. Following the sale, the chief executive officer now owns 502,485 shares in the company, valued at $1,743,622.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Acumen Pharmaceuticals news, CEO Daniel Joseph Oconnell sold 15,200 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $3.47, for a total value of $52,744.00. Following the sale, the chief executive officer now owns 502,485 shares in the company, valued at $1,743,622.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Derek M. Meisner sold 8,933 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $3.48, for a total transaction of $31,086.84. Following the completion of the sale, the insider now owns 108,867 shares in the company, valued at approximately $378,857.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,208 shares of company stock worth $110,136. 7.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new stake in Acumen Pharmaceuticals during the third quarter worth approximately $167,000. Schonfeld Strategic Advisors LLC bought a new stake in Acumen Pharmaceuticals during the third quarter worth approximately $2,677,000. Laurion Capital Management LP boosted its holdings in Acumen Pharmaceuticals by 57.1% during the third quarter. Laurion Capital Management LP now owns 1,895,023 shares of the company’s stock worth $7,864,000 after buying an additional 688,475 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Acumen Pharmaceuticals during the third quarter worth approximately $56,000. Finally, Intrepid Financial Planning Group LLC boosted its holdings in Acumen Pharmaceuticals by 49.6% during the third quarter. Intrepid Financial Planning Group LLC now owns 30,150 shares of the company’s stock worth $125,000 after buying an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 51.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft started coverage on shares of Acumen Pharmaceuticals in a research note on Tuesday, December 12th. They set a “buy” rating and a $8.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $12.25.

Get Our Latest Stock Analysis on ABOS

Acumen Pharmaceuticals Price Performance

NASDAQ ABOS opened at $4.18 on Friday. Acumen Pharmaceuticals has a 12 month low of $1.81 and a 12 month high of $11.31. The firm has a market capitalization of $242.06 million, a PE ratio of -3.73 and a beta of 0.10. The company’s 50 day simple moving average is $3.68 and its 200 day simple moving average is $3.64.

About Acumen Pharmaceuticals

(Get Free Report)

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for the treatment of Alzheimer's disease. The company focuses on advancing a targeted immunotherapy drug candidate ACU193, a humanized monoclonal antibody that is in Phase I clinical-stage to target soluble amyloid-beta oligomers.

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