ADAR1 Capital Management LLC Acquires 1,265,151 Shares of Acumen Pharmaceuticals, Inc. $ABOS

Key Points

• ADAR1 Capital Management increased its Acumen Pharmaceuticals stake by 142%, purchasing 1,265,151 shares and bringing its total ownership to 2.16 million shares, or about 2.99% of the company.
• Institutional investors own approximately 71.01% of ABOS, while the stock recently traded at $2.28, near the middle of its $1.19–$3.60 one-year range. Acumen reported a quarterly loss of $0.33 per share, beating the $0.40 loss estimate.
• Analyst sentiment remains mixed: two analysts rate the stock Buy and one rates it Sell, resulting in an overall “Hold” consensus and an $8.00 average price target. Meanwhile, insiders have sold 38,700 shares over the past 90 days.

ADAR1 Capital Management LLC lifted its holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Free Report) by 142.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,156,334 shares of the company's stock after buying an additional 1,265,151 shares during the quarter. ADAR1 Capital Management LLC owned approximately 2.99% of Acumen Pharmaceuticals worth $5,089,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in Acumen Pharmaceuticals by 12.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 49,062 shares of the company's stock worth $104,000 after purchasing an additional 5,538 shares during the period. OMERS ADMINISTRATION Corp lifted its holdings in shares of Acumen Pharmaceuticals by 27.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 28,600 shares of the company's stock valued at $67,000 after purchasing an additional 6,146 shares during the last quarter. PFG Investments LLC boosted its position in shares of Acumen Pharmaceuticals by 65.2% in the 4th quarter. PFG Investments LLC now owns 19,000 shares of the company's stock worth $40,000 after purchasing an additional 7,500 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Acumen Pharmaceuticals by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 410,206 shares of the company's stock worth $866,000 after purchasing an additional 11,428 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Acumen Pharmaceuticals in the 1st quarter worth approximately $27,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Acumen Pharmaceuticals Price Performance

NASDAQ ABOS opened at $2.28 on Wednesday. Acumen Pharmaceuticals, Inc. has a one year low of $1.19 and a one year high of $3.60. The stock has a 50-day moving average of $2.40 and a 200 day moving average of $2.51. The company has a market capitalization of $164.68 million, a price-to-earnings ratio of -1.23 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.55 and a current ratio of 4.55.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.07. On average, sell-side analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.39 EPS for the current year.

Insider Buying and Selling

In other Acumen Pharmaceuticals news, Director Derrell Porter sold 13,040 shares of Acumen Pharmaceuticals stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $2.33, for a total value of $30,383.20. Following the completion of the sale, the director owned 35,500 shares of the company's stock, valued at approximately $82,715. The trade was a 26.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 38,700 shares of company stock valued at $89,660. Insiders own 10.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ABOS shares. Wall Street Zen downgraded Acumen Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Acumen Pharmaceuticals in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $8.00.

About Acumen Pharmaceuticals

Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral small molecule therapies for neurodegenerative diseases. Leveraging a proprietary drug discovery platform that integrates chemoproteomics, high-throughput screening and computational chemistry, the company seeks to identify and optimize compounds that selectively modulate pathological protein aggregation. Its approach is designed to address the underlying biology of conditions such as Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis and related proteinopathies.

The company's pipeline comprises multiple lead candidates at various stages of preclinical and early clinical development.

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