Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 12.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 52,333 shares of the company’s stock after selling 7,663 shares during the period. The Manufacturers Life Insurance Company’s holdings in Acumen Pharmaceuticals were worth $130,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Acumen Pharmaceuticals in the 3rd quarter valued at $44,000. Murchinson Ltd. purchased a new stake in Acumen Pharmaceuticals in the 2nd quarter valued at about $136,000. Renaissance Technologies LLC acquired a new position in Acumen Pharmaceuticals in the second quarter valued at about $818,000. American Century Companies Inc. boosted its stake in Acumen Pharmaceuticals by 31.3% during the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock worth $110,000 after buying an additional 10,840 shares during the period. Finally, Rhumbline Advisers acquired a new stake in shares of Acumen Pharmaceuticals during the second quarter valued at about $127,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Acumen Pharmaceuticals Stock Performance

NASDAQ:ABOS opened at $1.97 on Tuesday. Acumen Pharmaceuticals, Inc. has a 52 week low of $1.92 and a 52 week high of $5.09. The company has a fifty day simple moving average of $2.52 and a two-hundred day simple moving average of $2.60. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. The company has a market cap of $118.36 million, a price-to-earnings ratio of -1.43 and a beta of -0.07.

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

Wall Street Analysts Forecast Growth

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

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.