StockNews.com Upgrades ARCA biopharma (NASDAQ:ABIO) to “Sell”

ARCA biopharma (NASDAQ:ABIO) was upgraded by investment analysts at StockNews.com to a “sell” rating in a report released on Tuesday.

ARCA biopharma Price Performance

Shares of NASDAQ ABIO traded up $0.07 during mid-day trading on Tuesday, reaching $3.55. 94,737 shares of the company’s stock traded hands, compared to its average volume of 706,128. The stock has a market cap of $51.51 million, a P/E ratio of -8.45 and a beta of 0.90. The business has a 50-day simple moving average of $3.44 and a 200 day simple moving average of $2.58. ARCA biopharma has a 1-year low of $1.56 and a 1-year high of $4.49.

ARCA biopharma (NASDAQ:ABIO) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter.

Insider Buying and Selling

In other news, major shareholder Henderson Group Plc Janus purchased 55,463 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were acquired at an average cost of $3.46 per share, for a total transaction of $191,901.98. Following the completion of the acquisition, the insider now owns 1,796,775 shares in the company, valued at $6,216,841.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have bought 297,323 shares of company stock worth $1,042,832. 30.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ARCA biopharma stock. Cable Car Capital LLC bought a new stake in ARCA biopharma, Inc. (NASDAQ:ABIO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,000,452 shares of the biopharmaceutical company’s stock, valued at approximately $6,801,000. ARCA biopharma comprises approximately 7.6% of Cable Car Capital LLC’s portfolio, making the stock its 4th biggest position. Cable Car Capital LLC owned approximately 27.59% of ARCA biopharma as of its most recent filing with the Securities and Exchange Commission (SEC). 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.