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

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

ARCA biopharma Trading Up 0.4 %

ARCA biopharma stock opened at $3.37 on Monday. ARCA biopharma has a 12 month low of $1.56 and a 12 month high of $3.88. The stock has a fifty day simple moving average of $2.57 and a two-hundred day simple moving average of $2.02. The firm has a market cap of $48.92 million, a price-to-earnings ratio of -8.03 and a beta of 0.89.

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 shares of ARCA biopharma, Inc. (NASDAQ:ABIO) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

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.