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

Research analysts at StockNews.com initiated coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a note issued to investors on Monday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

ARCA biopharma Stock Performance

Shares of ABIO stock opened at $3.26 on Monday. ARCA biopharma has a 52-week low of $1.56 and a 52-week high of $3.88. The firm has a market capitalization of $47.30 million, a P/E ratio of -7.76 and a beta of 0.89. The stock has a 50 day moving average price of $2.44 and a 200 day moving average price of $1.99.

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

Institutional Investors Weigh In On ARCA biopharma

An institutional investor recently bought a new position in ARCA biopharma stock. Cable Car Capital LLC bought a new stake in shares of ARCA biopharma, Inc. (NASDAQ:ABIO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,000,452 shares of the biopharmaceutical company’s stock, valued at approximately $6,801,000. ARCA biopharma makes up approximately 7.6% of Cable Car Capital LLC’s investment portfolio, making the stock its 4th largest position. Cable Car Capital LLC owned about 27.59% of ARCA biopharma as of its most recent filing with the Securities and Exchange Commission. 56.44% of the stock is owned by hedge funds and other institutional investors.

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.