ARCA biopharma (NASDAQ:ABIO) Share Price Passes Below 200-Day Moving Average of $2.28

ARCA biopharma, Inc. (NASDAQ:ABIOGet Rating) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.28 and traded as low as $2.06. ARCA biopharma shares last traded at $2.10, with a volume of 8,556 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of ARCA biopharma in a research note on Friday. They set a “sell” rating on the stock.

ARCA biopharma Trading Up 1.0 %

The business’s 50 day moving average is $2.09 and its two-hundred day moving average is $2.28. The company has a market cap of $30.26 million, a PE ratio of -2.08 and a beta of 1.82.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of ARCA biopharma during the 3rd quarter valued at $29,000. Renaissance Technologies LLC purchased a new stake in ARCA biopharma in the 2nd quarter worth $81,000. Bailard Inc. purchased a new stake in ARCA biopharma in the 2nd quarter worth $87,000. Millennium Management LLC lifted its stake in ARCA biopharma by 419.7% in the 2nd quarter. Millennium Management LLC now owns 59,370 shares of the biopharmaceutical company’s stock worth $148,000 after purchasing an additional 47,946 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake 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 in the last quarter. 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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