ARCA biopharma (NASDAQ:ABIO) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a research report released on Friday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

ARCA biopharma Stock Down 0.6 %

ABIO stock opened at $3.23 on Friday. ARCA biopharma has a fifty-two week low of $1.56 and a fifty-two week high of $3.88. The firm’s 50-day simple moving average is $1.91 and its 200 day simple moving average is $1.85.

ARCA biopharma (NASDAQ:ABIO) last released its quarterly earnings data on Thursday, February 1st. The biopharmaceutical company reported ($0.08) earnings per share for the quarter.

Hedge Funds Weigh In On ARCA biopharma

Several large investors have recently made changes to their positions in the business. Cable Car Capital LLC bought a new position in shares of ARCA biopharma during the 4th quarter valued at about $6,801,000. Western Standard LLC acquired a new position in shares of ARCA biopharma in the second quarter worth about $1,279,000. Vanguard Group Inc. boosted its holdings in shares of ARCA biopharma by 13.1% in the first quarter. Vanguard Group Inc. now owns 459,562 shares of the biopharmaceutical company’s stock worth $1,057,000 after buying an additional 53,279 shares during the period. Millennium Management LLC boosted its holdings in shares of ARCA biopharma by 419.7% in the second quarter. Millennium Management LLC now owns 59,370 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 47,946 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of ARCA biopharma in the second quarter worth about $81,000. Institutional investors own 56.44% of the company’s stock.

About ARCA biopharma

ARCA biopharma, Inc, a clinical stage biopharmaceutical company, engages in the development and commercialization of targeted therapies for cardiovascular diseases. Its lead product candidate is Gencaro, a pharmacogenetically-targeted beta-adrenergic receptor antagonist that has completed Phase IIb trial for the treatment of atrial fibrillation in patients with heart failure.