Geode Capital Management LLC Boosts Position in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

Geode Capital Management LLC boosted its holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 6.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 864,528 shares of the company’s stock after purchasing an additional 52,395 shares during the quarter. Geode Capital Management LLC’s holdings in Acumen Pharmaceuticals were worth $2,144,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. FMR LLC raised its holdings in Acumen Pharmaceuticals by 0.3% in the third quarter. FMR LLC now owns 2,028,117 shares of the company’s stock valued at $5,030,000 after buying an additional 6,014 shares during the period. American Century Companies Inc. raised its holdings in Acumen Pharmaceuticals by 31.3% in the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after buying an additional 10,840 shares during the period. SG Americas Securities LLC acquired a new stake in Acumen Pharmaceuticals in the third quarter valued at approximately $44,000. Barclays PLC grew its position in Acumen Pharmaceuticals by 189.1% in the third quarter. Barclays PLC now owns 61,997 shares of the company’s stock valued at $154,000 after acquiring an additional 40,551 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in Acumen Pharmaceuticals in the second quarter valued at approximately $127,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Insider Transactions at Acumen Pharmaceuticals

In other news, CEO Daniel Joseph Oconnell sold 47,778 shares of the firm’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 transaction of $87,911.52. Following the completion of the sale, the chief executive officer now owns 454,707 shares of the company’s stock, valued at approximately $836,660.88. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 79,508 shares of company stock valued at $146,556. 7.10% of the stock is currently owned by corporate insiders.

Acumen Pharmaceuticals Stock Down 1.1 %

Shares of NASDAQ:ABOS opened at $1.83 on Wednesday. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. Acumen Pharmaceuticals, Inc. has a 52-week low of $1.69 and a 52-week high of $5.09. The company has a 50 day moving average of $2.27 and a two-hundred day moving average of $2.52. The company has a market capitalization of $109.95 million, a price-to-earnings ratio of -1.33 and a beta of 0.02.

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

Analysts Set New Price Targets

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

Acumen Pharmaceuticals 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.