ARCA biopharma (NASDAQ:ABIO) Earns Sell Rating from Analysts at StockNews.com

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

ARCA biopharma Price Performance

ARCA biopharma has a 1 year low of $1.56 and a 1 year high of $4.49. The firm has a market capitalization of $34.82 million, a P/E ratio of -5.71 and a beta of 0.91. The firm’s 50-day simple moving average is $384.99 and its two-hundred day simple moving average is $404.69.

ARCA biopharma (NASDAQ:ABIO) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($25.92) earnings per share (EPS) for the quarter.

ARCA biopharma Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, August 28th. Stockholders of record on Monday, August 26th were paid a dividend of $228.96 per share. The ex-dividend date of this dividend was Thursday, August 29th.

Insider Activity at ARCA biopharma

In other ARCA biopharma news, major shareholder Henderson Group Plc Janus bought 1,153 shares of ARCA biopharma stock in a transaction dated Wednesday, July 3rd. The stock was acquired at an average cost of $511.20 per share, with a total value of $589,413.60. Following the purchase, the insider now directly owns 11,448 shares in the company, valued at approximately $5,852,217.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders acquired a total of 3,421 shares of company stock worth $1,666,176 in the last 90 days. Corporate insiders own 30.90% of the company’s stock.

Institutional Trading of ARCA biopharma

A number of institutional investors and hedge funds have recently modified their holdings of ABIO. Cubist Systematic Strategies LLC acquired a new stake in ARCA biopharma in the 2nd quarter worth about $106,000. Perceptive Advisors LLC acquired a new position in ARCA biopharma in the 2nd quarter valued at $59,395,000. Driehaus Capital Management LLC purchased a new position in ARCA biopharma in the 2nd quarter valued at $14,731,000. Affinity Asset Advisors LLC acquired a new stake in ARCA biopharma during the 2nd quarter worth $278,000. Finally, Renaissance Technologies LLC boosted its stake in ARCA biopharma by 11.3% during the 2nd quarter. Renaissance Technologies LLC now owns 73,099 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 7,400 shares during the last quarter. Hedge funds and other 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.