ARCA biopharma, Inc. (NASDAQ:ABIO) Short Interest Update

ARCA biopharma, Inc. (NASDAQ:ABIO) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 195,700 shares, an increase of 6.6% from the March 15th total of 183,600 shares. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is currently 0.1 days. Currently, 1.4% of the company’s stock are sold short.

ARCA biopharma Trading Down 1.8 %

Shares of ABIO stock opened at $3.21 on Thursday. The business’s fifty day simple moving average is $2.01 and its 200-day simple moving average is $1.87. The company has a market cap of $46.55 million, a PE ratio of -8.68 and a beta of 1.17. ARCA biopharma has a 12-month low of $1.56 and a 12-month high of $3.88.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on ARCA biopharma in a research report on Friday, April 12th. They set a “sell” rating on the stock.

Hedge Funds Weigh In On ARCA biopharma

Several hedge funds have recently made changes to their positions in the company. HRT Financial LP acquired a new position in shares of ARCA biopharma in the 1st quarter valued at $28,000. Jane Street Group LLC acquired a new position in shares of ARCA biopharma in the 4th quarter valued at $35,000. Charles Schwab Investment Management Inc. acquired a new position in shares of ARCA biopharma in the 1st quarter valued at $30,000. Virtu Financial LLC acquired a new position in shares of ARCA biopharma in the 1st quarter valued at $55,000. Finally, abrdn plc acquired a new position in shares of ARCA biopharma in the 4th quarter valued at $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.