ARCA biopharma (NASDAQ:ABIO) Research Coverage Started at StockNews.com

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

ARCA biopharma Stock Performance

ARCA biopharma stock opened at $1.76 on Wednesday. The firm has a market cap of $25.52 million, a P/E ratio of -4.76 and a beta of 1.16. The business’s fifty day moving average is $1.66 and its two-hundred day moving average is $1.79. ARCA biopharma has a 52 week low of $1.56 and a 52 week high of $2.16.

ARCA biopharma (NASDAQ:ABIO) last released its earnings results on Thursday, February 1st. The biopharmaceutical company reported ($0.08) earnings per share for the quarter.

Institutional Investors Weigh In On ARCA biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Cable Car Capital LLC bought a new stake in ARCA biopharma in the fourth quarter valued at about $6,801,000. Western Standard LLC acquired a new position in shares of ARCA biopharma during the second quarter worth about $1,279,000. Vanguard Group Inc. boosted its position in shares of ARCA biopharma by 13.1% during the first quarter. Vanguard Group Inc. now owns 459,562 shares of the biopharmaceutical company’s stock worth $1,057,000 after buying an additional 53,279 shares during the period. Millennium Management LLC boosted its position in ARCA biopharma by 419.7% during the second quarter. Millennium Management LLC now owns 59,370 shares of the biopharmaceutical company’s stock valued at $148,000 after purchasing an additional 47,946 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in ARCA biopharma during the second quarter valued at approximately $81,000. 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.