ARCA biopharma (NASDAQ:ABIO) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a report published on Wednesday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

ARCA biopharma Stock Performance

ARCA biopharma stock opened at $1.75 on Wednesday. ARCA biopharma has a fifty-two week low of $1.56 and a fifty-two week high of $2.16. The company has a market cap of $25.38 million, a PE ratio of -4.73 and a beta of 1.16. The business’s 50-day simple moving average is $1.66 and its two-hundred day simple moving average is $1.79.

ARCA biopharma (NASDAQ:ABIO) last issued its earnings results on Thursday, February 1st. The biopharmaceutical company reported ($0.08) EPS for the quarter.

Hedge Funds Weigh In On ARCA biopharma

A number of large investors have recently bought and sold shares of ABIO. HRT Financial LP acquired a new position in shares of ARCA biopharma during the first quarter valued at approximately $28,000. Jane Street Group LLC acquired a new position in shares of ARCA biopharma during the fourth quarter valued at approximately $35,000. Charles Schwab Investment Management Inc. acquired a new position in shares of ARCA biopharma during the first quarter valued at approximately $30,000. Virtu Financial LLC acquired a new position in shares of ARCA biopharma during the first quarter valued at approximately $55,000. Finally, abrdn plc acquired a new position in shares of ARCA biopharma during the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

About ARCA biopharma

ARCA biopharma, Inc, a clinical stage biopharmaceutical company, engages in the development and commercialization of targeted therapies for cardiovascular diseases. Its lead product candidate is Gencaro, a pharmacogenetically-targeted beta-adrenergic receptor antagonist that has completed Phase IIb trial for the treatment of atrial fibrillation in patients with heart failure.