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

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

ARCA biopharma Trading Up 5.8 %

NASDAQ:ABIO opened at $3.65 on Friday. ARCA biopharma has a 12 month low of $1.56 and a 12 month high of $3.88. The stock has a 50 day moving average of $2.15 and a two-hundred day moving average of $1.91. The firm has a market cap of $52.93 million, a P/E ratio of -9.86 and a beta of 1.17.

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

Institutional Investors Weigh In On ARCA biopharma

An institutional investor recently bought a new position in ARCA biopharma stock. abrdn plc purchased a new stake in ARCA biopharma, Inc. (NASDAQ:ABIO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

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.