ARCA biopharma (NASDAQ:ABIO) Earns Sell Rating from Analysts at started coverage on shares of ARCA biopharma (NASDAQ:ABIOGet Rating) in a research report issued on Friday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

ARCA biopharma Price Performance

Shares of ARCA biopharma stock opened at $2.10 on Friday. The stock has a market cap of $30.26 million, a price-to-earnings ratio of -2.08 and a beta of 1.82. ARCA biopharma has a 1 year low of $1.71 and a 1 year high of $2.64. The firm’s 50-day moving average is $2.09 and its two-hundred day moving average is $2.28.

Institutional Investors Weigh In On ARCA biopharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABIO. Virtu Financial LLC acquired a new stake in ARCA biopharma in the third quarter valued at $29,000. Renaissance Technologies LLC purchased a new stake in shares of ARCA biopharma during the 2nd quarter valued at about $81,000. Bailard Inc. purchased a new stake in shares of ARCA biopharma during the 2nd quarter valued at about $87,000. Millennium Management LLC grew its stake in ARCA biopharma by 419.7% during the 2nd 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 in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 53,279 shares in the last quarter. Hedge funds and other institutional investors own 28.12% of the company’s stock.

About ARCA biopharma

(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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