ARCA biopharma (NASDAQ:ABIO) Shares to Reverse Split on Tuesday, September 3rd

ARCA biopharma, Inc. (NASDAQ:ABIO)’s stock is set to reverse split before the market opens on Tuesday, September 3rd. The 1-12 reverse split was announced on Friday, August 23rd. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, August 30th.

ARCA biopharma Price Performance

Shares of ARCA biopharma stock opened at $2.50 on Friday. ARCA biopharma has a 1 year low of $1.56 and a 1 year high of $4.49. The business has a 50 day moving average price of $3.31 and a 200 day moving average price of $2.91. The company has a market capitalization of $36.27 million, a P/E ratio of -5.95 and a beta of 0.91.

ARCA biopharma (NASDAQ:ABIO) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.18) earnings per share for the quarter.

ARCA biopharma Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, August 28th. Investors of record on Monday, August 26th were given a dividend of $1.59 per share. The ex-dividend date was Thursday, August 29th.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of ARCA biopharma to a “sell” rating in a research note on Tuesday, August 20th.

Insider Buying and Selling

In other ARCA biopharma news, major shareholder Henderson Group Plc Janus purchased 166,042 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was bought at an average cost of $3.55 per share, for a total transaction of $589,449.10. Following the acquisition, the insider now owns 1,648,577 shares of the company’s stock, valued at approximately $5,852,448.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have bought 492,997 shares of company stock worth $1,667,418. 30.90% of the stock is owned by insiders.

Institutional Trading of ARCA biopharma

A number of hedge funds have recently added to or reduced their stakes in ABIO. abrdn plc acquired a new position in shares of ARCA biopharma during the 4th quarter valued at about $55,000. Cubist Systematic Strategies LLC acquired a new position in ARCA biopharma during the second quarter worth approximately $106,000. Affinity Asset Advisors LLC acquired a new position in ARCA biopharma during the second quarter worth approximately $278,000. Renaissance Technologies LLC raised its stake in ARCA biopharma by 11.3% during 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 period. Finally, Cowen AND Company LLC acquired a new position in shares of ARCA biopharma in the 2nd quarter valued at $2,681,000. 56.44% of the stock is owned by institutional investors and hedge funds.

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.