StockNews.com upgraded shares of ARCA biopharma (NASDAQ:ABIO – Free Report) to a sell rating in a research report released on Tuesday morning.
ARCA biopharma Stock Performance
ARCA biopharma has a 1-year low of $1.56 and a 1-year high of $4.49. The company has a market capitalization of $34.82 million, a PE ratio of -5.71 and a beta of 0.91. The stock’s 50-day moving average price is $457.66 and its 200 day moving average price is $418.62.
ARCA biopharma (NASDAQ:ABIO – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($25.92) earnings per share (EPS) for the quarter.
ARCA biopharma Announces Dividend
Insider Activity
In other ARCA biopharma news, major shareholder Henderson Group Plc Janus purchased 196 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was bought at an average cost of $493.92 per share, for a total transaction of $96,808.32. Following the completion of the transaction, the insider now owns 11,645 shares in the company, valued at $5,751,698.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders acquired 3,421 shares of company stock worth $1,666,176. Corporate insiders own 30.90% of the company’s stock.
Institutional Investors Weigh In On ARCA biopharma
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in ARCA biopharma during the second quarter valued at approximately $106,000. Affinity Asset Advisors LLC acquired a new position in ARCA biopharma during the second quarter valued at approximately $278,000. Renaissance Technologies LLC raised its position in ARCA biopharma by 11.3% during the second quarter. Renaissance Technologies LLC now owns 73,099 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 7,400 shares in the last quarter. Cowen AND Company LLC acquired a new position in ARCA biopharma during the second quarter valued at approximately $2,681,000. Finally, Cable Car Capital LLC acquired a new position in ARCA biopharma during the fourth quarter valued at approximately $6,801,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.
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.
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