Research analysts at StockNews.com initiated coverage on shares of ARCA biopharma (NASDAQ:ABIO – Get Free Report) in a note issued to investors on Saturday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.
ARCA biopharma Price Performance
Shares of ABIO stock opened at $2.40 on Friday. The firm has a market cap of $34.82 million, a P/E ratio of -5.71 and a beta of 0.91. ARCA biopharma has a 1-year low of $1.56 and a 1-year high of $4.49. The firm has a fifty day moving average of $394.93 and a two-hundred day moving average of $406.31.
ARCA biopharma (NASDAQ:ABIO – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($25.92) earnings per share for the quarter.
Insider Buying and Selling
Institutional Investors Weigh In On ARCA biopharma
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in shares of ARCA biopharma in the 2nd quarter valued at approximately $106,000. Perceptive Advisors LLC acquired a new stake in ARCA biopharma in the 2nd quarter valued at approximately $59,395,000. Driehaus Capital Management LLC acquired a new stake in ARCA biopharma in the 2nd quarter valued at approximately $14,731,000. Affinity Asset Advisors LLC acquired a new stake in ARCA biopharma in the 2nd quarter valued at approximately $278,000. Finally, Renaissance Technologies LLC grew its holdings in ARCA biopharma by 11.3% in the 2nd quarter. Renaissance Technologies LLC now owns 73,099 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 7,400 shares during the last quarter. 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.
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