Investment analysts at StockNews.com began coverage on shares of ARCA biopharma (NASDAQ:ABIO – Get Rating) in a research note issued on Friday. The firm set a “sell” rating on the biopharmaceutical company’s stock.
ARCA biopharma Price Performance
Shares of NASDAQ:ABIO opened at $2.13 on Friday. The company has a market capitalization of $30.98 million, a price-to-earnings ratio of -3.09 and a beta of 1.47. The firm’s 50 day simple moving average is $2.22 and its 200 day simple moving average is $2.19. ARCA biopharma has a fifty-two week low of $1.76 and a fifty-two week high of $2.70.
Institutional Trading of ARCA biopharma
A number of hedge funds have recently modified their holdings of ABIO. Virtu Financial LLC bought a new stake in ARCA biopharma during the 3rd quarter worth approximately $29,000. Jane Street Group LLC bought a new stake in ARCA biopharma during the 4th quarter worth approximately $35,000. Renaissance Technologies LLC bought a new stake in ARCA biopharma during the 2nd quarter worth approximately $81,000. Murchinson Ltd. bought a new stake in ARCA biopharma during the 4th quarter worth approximately $120,000. Finally, Millennium Management LLC increased 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 worth $148,000 after purchasing an additional 47,946 shares in the last quarter. 15.42% of the stock is currently owned by institutional investors and hedge funds.
ARCA biopharma Company Profile
ARCA biopharma, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of targeted therapies for cardiovascular diseases. The firm focuses on the cardiovascular pathophysiology, molecular genetics, and clinical development. Its product candidate, Gencaro is a pharmacologic beta-blocker and mild vasodilator, which is developed for the treatment of chronic heart failure and other indications.
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