ARCA biopharma (NASDAQ:ABIO) Now Covered by Analysts at StockNews.com

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

ARCA biopharma Price Performance

The company has a 50 day moving average price of $447.43 and a 200 day moving average price of $416.95. The firm has a market capitalization of $34.82 million, a price-to-earnings ratio of -5.71 and a beta of 0.91. ARCA biopharma has a 12 month low of $1.56 and a 12 month high of $4.49.

ARCA biopharma (NASDAQ:ABIO) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($25.92) EPS for the quarter.

ARCA biopharma Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, August 28th. Investors of record on Monday, August 26th were issued a $228.96 dividend. The ex-dividend date was Thursday, August 29th.

Insider Buying and Selling at ARCA biopharma

In related news, major shareholder Henderson Group Plc Janus purchased 1,153 shares of ARCA biopharma stock in a transaction dated Wednesday, July 3rd. The stock was bought at an average cost of $511.20 per share, with a total value of $589,413.60. Following the purchase, the insider now owns 11,448 shares in the company, valued at approximately $5,852,217.60. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have purchased 3,421 shares of company stock valued at $1,666,176. Company insiders own 30.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ABIO. Cubist Systematic Strategies LLC acquired a new stake in ARCA biopharma during the second quarter valued at approximately $106,000. Affinity Asset Advisors LLC acquired a new position in shares of ARCA biopharma in the 2nd quarter valued at $278,000. Renaissance Technologies LLC boosted its holdings in shares of 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 buying an additional 7,400 shares during the period. Cowen AND Company LLC purchased a new position in ARCA biopharma during the 2nd quarter worth approximately $2,681,000. Finally, Cable Car Capital LLC purchased a new stake in shares of ARCA biopharma in the fourth quarter valued at $6,801,000. 56.44% of the stock is 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.