abrdn plc Makes New Investment in ARCA biopharma, Inc. (NASDAQ:ABIO)

abrdn plc bought a new position in ARCA biopharma, Inc. (NASDAQ:ABIO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of ARCA biopharma in a report on Sunday. They issued a “sell” rating for the company.

ARCA biopharma Stock Performance

Shares of ARCA biopharma stock opened at $3.25 on Thursday. The stock has a market capitalization of $47.16 million, a PE ratio of -7.74 and a beta of 1.17. ARCA biopharma, Inc. has a 52-week low of $1.56 and a 52-week high of $3.88. The company has a 50-day simple moving average of $2.34 and a two-hundred day simple moving average of $1.96.

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

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.