ARCA biopharma (NASDAQ:ABIO) Now Covered by StockNews.com

Research analysts at StockNews.com assumed coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a report issued on Sunday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

ARCA biopharma Trading Up 2.9 %

NASDAQ ABIO opened at $3.58 on Friday. The stock has a market cap of $51.91 million, a price-to-earnings ratio of -8.52 and a beta of 1.17. 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 $2.27 and its two-hundred day moving average is $1.94.

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

Institutional Investors Weigh In On ARCA biopharma

A hedge fund recently bought a new stake in ARCA biopharma stock. abrdn plc acquired a new position in shares of ARCA biopharma, Inc. (NASDAQ:ABIO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000. 56.44% of the stock is currently owned by institutional investors.

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.