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

Research analysts at StockNews.com initiated coverage on shares of ARCA biopharma (NASDAQ:ABIO) 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) 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

In other news, major shareholder Henderson Group Plc Janus bought 1,318 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were acquired at an average cost of $460.80 per share, with a total value of $607,334.40. Following the completion of the transaction, the insider now directly owns 14,452 shares in the company, valued at approximately $6,659,481.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 3,421 shares of company stock worth $1,666,176 in the last ninety days. 30.90% of the stock is currently owned by corporate insiders.

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.