Equities research analysts at StockNews.com initiated coverage on shares of ARCA biopharma (NASDAQ:ABIO – Get Free Report) in a note issued to investors on Thursday. The firm set a “sell” rating on the biopharmaceutical company’s stock.
ARCA biopharma Stock Performance
ARCA biopharma has a 1-year low of $1.56 and a 1-year high of $4.49. The business has a fifty day simple moving average of $447.43 and a 200 day simple moving average of $416.95. The company has a market capitalization of $34.82 million, a P/E ratio of -5.71 and a beta of 0.91.
ARCA biopharma (NASDAQ:ABIO – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($25.92) earnings per share (EPS) for the quarter.
Insider Buying and Selling at ARCA biopharma
Hedge Funds Weigh In On ARCA biopharma
A number of hedge funds have recently bought and sold shares of ABIO. Cubist Systematic Strategies LLC bought a new position in shares of ARCA biopharma in the second quarter valued at approximately $106,000. Affinity Asset Advisors LLC purchased a new position in ARCA biopharma in the second quarter worth $278,000. Renaissance Technologies LLC boosted its position in ARCA biopharma by 11.3% in the second quarter. Renaissance Technologies LLC now owns 73,099 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 7,400 shares during the last quarter. Cowen AND Company LLC bought a new position in ARCA biopharma in the 2nd quarter valued at $2,681,000. Finally, Cable Car Capital LLC purchased a new stake in shares of ARCA biopharma during the 4th quarter valued at $6,801,000. 56.44% of the stock is 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.
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