Research analysts at StockNews.com initiated coverage on shares of ARCA biopharma (NASDAQ:ABIO – Get Free Report) in a research report issued on Monday. The firm set a “sell” rating on the biopharmaceutical company’s stock.
ARCA biopharma Stock Performance
ABIO opened at $3.29 on Monday. The stock has a 50-day moving average of $2.50 and a 200-day moving average of $2.00. ARCA biopharma has a 52-week low of $1.56 and a 52-week high of $3.88. The company has a market cap of $47.74 million, a PE ratio of -7.83 and a beta of 0.89.
Hedge Funds Weigh In On ARCA biopharma
A hedge fund recently bought a new stake in ARCA biopharma stock. abrdn plc bought a new stake in ARCA biopharma, Inc. (NASDAQ:ABIO – Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 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.
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.
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