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

Analysts at StockNews.com began coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a research note issued to investors on Wednesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

ARCA biopharma Stock Performance

Shares of NASDAQ ABIO opened at $1.76 on Wednesday. The firm has a market capitalization of $25.52 million, a price-to-earnings ratio of -4.76 and a beta of 1.16. The stock has a 50 day moving average price of $1.66 and a 200 day moving average price of $1.79. ARCA biopharma has a 52-week low of $1.56 and a 52-week high of $2.16.

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

Hedge Funds Weigh In On ARCA biopharma

Large investors have recently made changes to their positions in the business. HRT Financial LP acquired a new position in shares of ARCA biopharma during the first quarter worth $28,000. Jane Street Group LLC acquired a new position in shares of ARCA biopharma in the 4th quarter valued at $35,000. Charles Schwab Investment Management Inc. acquired a new position in shares of ARCA biopharma in the 1st quarter valued at $30,000. Virtu Financial LLC acquired a new position in shares of ARCA biopharma in the 1st quarter valued at $55,000. Finally, abrdn plc acquired a new position in shares of ARCA biopharma in the 4th quarter valued at $55,000. 56.44% of the stock is owned by institutional investors and hedge funds.

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.