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

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

ARCA biopharma Stock Performance

Shares of NASDAQ ABIO opened at $3.36 on Monday. The firm’s 50-day simple moving average is $2.53 and its 200 day simple moving average is $2.01. The stock has a market cap of $48.74 million, a price-to-earnings ratio of -8.00 and a beta of 0.89. ARCA biopharma has a fifty-two week low of $1.56 and a fifty-two week high of $3.88.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ARCA biopharma stock. abrdn plc bought a new position in ARCA biopharma, Inc. (NASDAQ:ABIO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.

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.