ARCA biopharma (NASDAQ:ABIO) Coverage Initiated at StockNews.com

Research analysts at StockNews.com started coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a note issued to investors on Monday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

ARCA biopharma Price Performance

Shares of ABIO stock opened at $3.29 on Monday. ARCA biopharma has a 1-year low of $1.56 and a 1-year high of $3.88. The stock’s 50-day moving average is $2.50 and its 200 day moving average is $2.00. The company has a market cap of $47.74 million, a P/E ratio of -7.83 and a beta of 0.89.

Institutional Investors Weigh In On ARCA biopharma

A hedge fund recently bought a new stake in ARCA biopharma stock. Cable Car Capital LLC purchased a new position in ARCA biopharma, Inc. (NASDAQ:ABIO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,000,452 shares of the biopharmaceutical company’s stock, valued at approximately $6,801,000. ARCA biopharma makes up approximately 7.6% of Cable Car Capital LLC’s portfolio, making the stock its 4th biggest position. Cable Car Capital LLC owned 27.59% of ARCA biopharma at the end of the most recent reporting period. 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.