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

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

ARCA biopharma Stock Up 2.3 %

ABIO stock opened at $1.75 on Wednesday. The company has a market cap of $25.38 million, a price-to-earnings ratio of -4.73 and a beta of 1.16. The business has a fifty day simple moving average of $1.66 and a 200-day simple moving average of $1.79. ARCA biopharma has a 52 week low of $1.56 and a 52 week high of $2.16.

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

Institutional Trading of ARCA biopharma

A number of institutional investors have recently added to or reduced their stakes in the business. Cable Car Capital LLC purchased a new stake in ARCA biopharma during the 4th quarter worth $6,801,000. Western Standard LLC purchased a new stake in ARCA biopharma during the 2nd quarter worth $1,279,000. Vanguard Group Inc. boosted its position in ARCA biopharma by 13.1% during the 1st quarter. Vanguard Group Inc. now owns 459,562 shares of the biopharmaceutical company’s stock worth $1,057,000 after purchasing an additional 53,279 shares during the period. Millennium Management LLC boosted its position in ARCA biopharma by 419.7% during the 2nd quarter. Millennium Management LLC now owns 59,370 shares of the biopharmaceutical company’s stock worth $148,000 after purchasing an additional 47,946 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in ARCA biopharma during the 2nd quarter worth $81,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

About ARCA biopharma

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.