ARCA biopharma (NASDAQ:ABIO) Receives New Coverage from Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of ARCA biopharma (NASDAQ:ABIO) 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) 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

In related news, major shareholder Henderson Group Plc Janus acquired 1,318 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was purchased at an average cost of $460.80 per share, with a total value of $607,334.40. Following the acquisition, the insider now owns 14,452 shares of the company’s stock, valued at approximately $6,659,481.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders purchased 3,421 shares of company stock worth $1,666,176. Insiders own 30.90% of the company’s stock.

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.