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

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

ARCA biopharma Stock Up 4.0 %

Shares of ABIO opened at $3.39 on Wednesday. The firm has a market cap of $49.19 million, a price-to-earnings ratio of -8.07 and a beta of 0.89. The business’s 50 day moving average is $2.96 and its two-hundred day moving average is $2.14. ARCA biopharma has a 52-week low of $1.56 and a 52-week high of $4.49.

ARCA biopharma (NASDAQ:ABIO) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter.

Hedge Funds Weigh In On ARCA biopharma

An institutional investor recently bought a new position in ARCA biopharma stock. Cable Car Capital LLC bought a new position in shares of ARCA biopharma, Inc. (NASDAQ:ABIO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,000,452 shares of the biopharmaceutical company’s stock, valued at approximately $6,801,000. ARCA biopharma accounts for approximately 7.6% of Cable Car Capital LLC’s investment portfolio, making the stock its 4th largest holding. Cable Car Capital LLC owned 27.59% of ARCA biopharma as of its most recent SEC filing. Institutional investors 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.