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.
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