Stock analysts at StockNews.com started coverage on shares of ARCA biopharma (NASDAQ:ABIO – Get Rating) in a note issued to investors on Thursday. The firm set a “sell” rating on the biopharmaceutical company’s stock.
ARCA biopharma Stock Performance
Shares of ABIO opened at $1.98 on Thursday. The firm has a market capitalization of $28.53 million, a price-to-earnings ratio of -1.96 and a beta of 1.82. ARCA biopharma has a one year low of $1.71 and a one year high of $2.64. The stock’s fifty day moving average is $2.12 and its 200-day moving average is $2.29.
Institutional Investors Weigh In On ARCA biopharma
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in ARCA biopharma by 13.1% in the 1st quarter. Vanguard Group Inc. now owns 459,562 shares of the biopharmaceutical company’s stock worth $1,057,000 after purchasing an additional 53,279 shares during the last quarter. Millennium Management LLC increased its position in shares of 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 period. Bailard Inc. bought a new stake in shares of ARCA biopharma during the second quarter valued at approximately $87,000. Renaissance Technologies LLC bought a new stake in shares of ARCA biopharma during the second quarter valued at approximately $81,000. Finally, Virtu Financial LLC bought a new stake in ARCA biopharma in the first quarter valued at $55,000. 28.12% of the stock is currently owned by institutional investors and hedge funds.
About ARCA biopharma
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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