ARCA biopharma, Inc. (NASDAQ:ABIO) Short Interest Update

ARCA biopharma, Inc. (NASDAQ:ABIO) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 5,660,000 shares, a growth of 2,792.2% from the March 31st total of 195,700 shares. Approximately 39.6% of the shares of the stock are sold short. Based on an average trading volume of 1,380,000 shares, the short-interest ratio is currently 4.1 days.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on ARCA biopharma in a research report on Saturday, April 20th. They issued a “sell” rating for the company.

ARCA biopharma Stock Down 4.1 %

Shares of NASDAQ ABIO opened at $3.48 on Friday. The stock has a market capitalization of $50.46 million, a price-to-earnings ratio of -9.41 and a beta of 1.17. ARCA biopharma has a 52 week low of $1.56 and a 52 week high of $3.88. The firm has a 50-day moving average price of $2.19 and a 200 day moving average price of $1.92.

ARCA biopharma (NASDAQ:ABIO) last announced its quarterly 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

An institutional investor recently bought a new position in ARCA biopharma stock. abrdn plc purchased a new stake in ARCA biopharma, Inc. (NASDAQ:ABIO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000. 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.