ARCA biopharma (ABIO) Posts Earnings Results, Hits Expectations

ARCA biopharma (NASDAQ:ABIO) posted its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.20), Bloomberg Earnings reports.

Shares of NASDAQ:ABIO remained flat at $$0.56 during midday trading on Thursday. The company had a trading volume of 1,212 shares, compared to its average volume of 964,764. ARCA biopharma has a 12 month low of $0.57 and a 12 month high of $0.59.

In related news, major shareholder Ravi Viswanathan sold 1,460,209 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $0.50, for a total transaction of $730,104.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 1,462,215 shares of company stock worth $731,198. 3.33% of the stock is currently owned by corporate insiders.

Several research firms have weighed in on ABIO. ValuEngine raised ARCA biopharma from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Ascendiant Capital Markets began coverage on ARCA biopharma in a research report on Tuesday, February 27th. They issued a “buy” rating and a $2.00 price objective on the stock.

ARCA biopharma Company Profile

ARCA biopharma, Inc, a biopharmaceutical company, focuses on developing genetically-targeted therapies for cardiovascular diseases. The company's lead product candidate is Gencaro, a pharmacologically beta-blocker and mild vasodilator, which is in clinical trial for the treatment of atrial fibrillation in chronic heart failure patients with reduced left ventricular ejection fraction.

Earnings History for ARCA biopharma (NASDAQ:ABIO)

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