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

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

ARCA biopharma Price Performance

Shares of NASDAQ ABIO opened at $3.45 on Friday. The company’s 50 day simple moving average is $2.11 and its 200 day simple moving average is $1.90. ARCA biopharma has a fifty-two week low of $1.56 and a fifty-two week high of $3.88. The firm has a market capitalization of $50.03 million, a P/E ratio of -9.32 and a beta of 1.17.

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

Hedge Funds Weigh In On ARCA biopharma

An institutional investor recently bought a new position in ARCA biopharma stock. abrdn plc acquired a new stake in ARCA biopharma, Inc. (NASDAQ:ABIO) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

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.