StockNews.com assumed coverage on shares of ARCA biopharma (NASDAQ:ABIO – Free Report) in a research report released on Monday. The firm issued a sell rating on the biopharmaceutical company’s stock.
ARCA biopharma Stock Performance
NASDAQ ABIO opened at $3.22 on Monday. ARCA biopharma has a 12 month low of $1.56 and a 12 month high of $3.88. The company’s 50 day moving average is $2.47 and its two-hundred day moving average is $2.00.
Institutional Investors Weigh In On ARCA biopharma
An institutional investor recently bought a new position in ARCA biopharma stock. abrdn plc bought a new position in shares of ARCA biopharma, Inc. (NASDAQ:ABIO – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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.
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.
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