ARCA biopharma, Inc. (NASDAQ:ABIO) Short Interest Update

ARCA biopharma, Inc. (NASDAQ:ABIO) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 5,660,000 shares, a growth of 2,792.2% from the March 31st total of 195,700 shares. Currently, 39.6% of the shares of the company are sold short. Based on an average daily volume of 1,380,000 shares, the days-to-cover ratio is currently 4.1 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on ARCA biopharma in a research note on Saturday, April 20th. They set a “sell” rating on the stock.

Institutional Trading of ARCA biopharma

A hedge fund recently bought a new stake in ARCA biopharma stock. abrdn plc purchased a new stake in shares of ARCA biopharma, Inc. (NASDAQ:ABIO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000. Institutional investors own 56.44% of the company’s stock.

ARCA biopharma Stock Down 3.6 %

ARCA biopharma stock traded down $0.13 during mid-day trading on Thursday, hitting $3.50. 48,031 shares of the company’s stock traded hands, compared to its average volume of 1,125,423. The firm has a 50 day moving average price of $2.19 and a 200 day moving average price of $1.92. The company has a market cap of $50.75 million, a PE ratio of -9.46 and a beta of 1.17. ARCA biopharma has a one year low of $1.56 and a one year high of $3.88.

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

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.