StockNews.com Begins Coverage on ARCA biopharma (NASDAQ:ABIO)

Equities research analysts at StockNews.com started coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a research report issued to clients and investors on Saturday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

ARCA biopharma Stock Performance

NASDAQ ABIO opened at $3.40 on Friday. The stock has a market cap of $49.30 million, a price-to-earnings ratio of -9.19 and a beta of 1.17. The business has a 50 day simple moving average of $2.08 and a 200 day simple moving average of $1.89. ARCA biopharma has a 52-week low of $1.56 and a 52-week high of $3.88.

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

Institutional Investors Weigh In On ARCA biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in ABIO. HRT Financial LP acquired a new stake in ARCA biopharma in the 1st quarter valued at about $28,000. Jane Street Group LLC acquired a new stake in ARCA biopharma in the 4th quarter worth about $35,000. Charles Schwab Investment Management Inc. bought a new stake in ARCA biopharma in the 1st quarter valued at about $30,000. Virtu Financial LLC acquired a new position in shares of ARCA biopharma during the 1st quarter worth approximately $55,000. Finally, abrdn plc acquired a new position in shares of ARCA biopharma during the 4th quarter worth approximately $55,000. Institutional investors own 56.44% of the company’s stock.

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.