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

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

ARCA biopharma Stock Up 2.9 %

Shares of ARCA biopharma stock opened at $3.58 on Friday. ARCA biopharma has a twelve month low of $1.56 and a twelve month high of $3.88. The firm’s 50-day moving average price is $2.27 and its 200 day moving average price is $1.94.

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

Institutional Trading of ARCA biopharma

An institutional investor recently bought a new position in ARCA biopharma stock. abrdn plc acquired a new stake in ARCA biopharma, Inc. (NASDAQ:ABIO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000. 56.44% of the stock is owned by institutional investors and hedge funds.

ARCA biopharma Company Profile

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.