ARCA biopharma (NASDAQ:ABIO) Now Covered by StockNews.com

StockNews.com began coverage on shares of ARCA biopharma (NASDAQ:ABIOGet Rating) in a research note issued on Saturday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

NASDAQ:ABIO opened at $2.35 on Friday. The company’s 50 day moving average price is $2.34 and its 200-day moving average price is $2.21. ARCA biopharma has a 52 week low of $1.71 and a 52 week high of $3.84. The stock has a market cap of $33.86 million, a price-to-earnings ratio of -1.81 and a beta of 2.20.

ARCA biopharma (NASDAQ:ABIOGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The biopharmaceutical company reported ($0.23) EPS for the quarter.

In other ARCA biopharma news, insider Fund Lp Funicular purchased 64,851 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were acquired at an average cost of $2.32 per share, for a total transaction of $150,454.32. Following the completion of the transaction, the insider now owns 2,580,452 shares of the company’s stock, valued at $5,986,648.64. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders acquired 477,241 shares of company stock worth $1,092,974 over the last quarter. Insiders own 0.48% of the company’s stock.

Several hedge funds have recently made changes to their positions in ABIO. Marquette Asset Management LLC bought a new stake in shares of ARCA biopharma during the 1st quarter valued at $40,000. Millennium Management LLC bought a new stake in shares of ARCA biopharma during the 3rd quarter valued at $47,000. Goldman Sachs Group Inc. bought a new stake in shares of ARCA biopharma during the 2nd quarter valued at $49,000. Virtu Financial LLC bought a new stake in shares of ARCA biopharma during the 1st quarter valued at $55,000. Finally, Dimensional Fund Advisors LP purchased a new position in ARCA biopharma during the fourth quarter valued at $91,000. Hedge funds and other institutional investors own 28.12% of the company’s stock.

ARCA biopharma Company Profile (Get Rating)

ARCA biopharma, Inc, a clinical-stage biopharmaceutical company, develops and commercializes genetically targeted therapies for cardiovascular diseases. Its lead product candidates are Recombinant Nematode Anticoagulant Protein c2 (rNAPc2) (AB201), which is in Phase IIb clinical trial for the treatment for COVID-19; and Gencaro (bucindolol hydrochloride), a pharmacogenetically-targeted beta-adrenergic receptor antagonist that has completed Phase IIb trial for the treatment of atrial fibrillation in patients with chronic heart failure.

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