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A company insider recently sold 15,200 shares of Acumen Pharmaceuticals Inc [ABOS]. Should You Sale?

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Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Acumen Pharmaceuticals Inc shares valued at $52,753 were sold by OConnell Daniel Joseph on Jan 19 ’24. At $3.47 per share, OConnell Daniel Joseph sold 15,200 shares. The insider’s holdings dropped to 502,485 shares worth approximately $1.16 million following the completion of this transaction.

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Also, Meisner Derek M sold 8,933 shares, netting a total of over 31,048 in proceeds. Following the sale of shares at $3.48 each, the insider now holds 108,867 shares.

Before that, Zuga Matt had sold 4,242 shares from its account. In a trade valued at $15,717, the CFO & Chief Business Officer traded Acumen Pharmaceuticals Inc shares for $3.71 each. Upon closing the transaction, the insider’s holdings decreased to 4,242 shares, worth approximately $0.49 million.

As published in their initiating research note from Deutsche Bank on December 12, 2023, Acumen Pharmaceuticals Inc [ABOS] has been a Buy and the price target has been revised to $8. As of May 18, 2023, Cantor Fitzgerald has initiated its “an Overweight” rating for ABOS. Earlier on July 15, 2022, BTIG Research initiated its rating. Their recommendation was “a Buy” for ABOS stock.

Analyzing ABOS Stock Performance

During the last five days, there has been a surge of approximately 6.48%. Over the course of the year, Acumen Pharmaceuticals Inc shares have dropped approximately -40.10%. Shares of the company reached a 52-week high of $5.09 on 03/04/24 and a 52-week low of $2.08 on 06/26/24. A 50-day SMA is recorded $2.98, while a 200-day SMA reached $3.35. Nevertheless, trading volume fell to 0.19 million shares from 0.34 million shares the previous day.

Support And Resistance Levels for Acumen Pharmaceuticals Inc (ABOS)

According to the 24-hour chart, there is a support level at 2.28, which, if violated, would cause prices to drop to 2.20. In the upper region, resistance lies at 2.41. The next price resistance is at 2.46. RSI (Relative Strength Index) is 37.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.01, which suggests the price will decrease in the coming days. Percent R is at 58.57%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.

Which companies own the most shares of Acumen Pharmaceuticals Inc (ABOS)?

On June 30, 2022, H.C. Wainwright assigned a price target of “a Buy” to the stock and initiated coverage with a $15.

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