ARCA biopharma, Inc. (NASDAQ:ABIO) Sees Significant Growth in Short Interest

ARCA biopharma, Inc. (NASDAQ:ABIO) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 5,660,000 shares, an increase of 2,792.2% from the March 31st total of 195,700 shares. Based on an average daily volume of 1,380,000 shares, the days-to-cover ratio is presently 4.1 days. Approximately 39.6% of the shares of the stock are short sold.

ARCA biopharma Stock Up 2.9 %

ABIO stock opened at $3.58 on Friday. The company has a market cap of $51.91 million, a P/E ratio of -9.68 and a beta of 1.17. ARCA biopharma has a twelve month low of $1.56 and a twelve month high of $3.88. The business has a fifty day moving average of $2.23 and a 200-day moving average of $1.93.

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

Analyst Ratings Changes

Separately, StockNews.com began coverage on ARCA biopharma in a research report on Saturday, April 20th. They issued a “sell” rating for the company.

Institutional Investors Weigh In On ARCA biopharma

An institutional investor recently bought a new position in ARCA biopharma stock. Cable Car Capital LLC acquired a new position in shares of ARCA biopharma, Inc. (NASDAQ:ABIO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,000,452 shares of the biopharmaceutical company’s stock, valued at approximately $6,801,000. ARCA biopharma accounts for about 7.6% of Cable Car Capital LLC’s investment portfolio, making the stock its 4th largest holding. Cable Car Capital LLC owned approximately 27.59% of ARCA biopharma as of its most recent SEC filing. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

ARCA biopharma Company Profile

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.