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

Equities researchers at StockNews.com began coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a research note issued on Friday. The brokerage set 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 company has a market capitalization of $34.82 million, a PE ratio of -5.71 and a beta of 0.91. The company’s fifty day moving average price is $416.18 and its two-hundred day moving average price is $409.54.

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

Insider Buying and Selling

In other ARCA biopharma news, major shareholder Henderson Group Plc Janus acquired 196 shares of the business’s stock in a transaction on Friday, July 5th. The shares were bought at an average price of $493.92 per share, with a total value of $96,808.32. Following the transaction, the insider now directly owns 11,645 shares of the company’s stock, valued at approximately $5,751,698.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders acquired 3,421 shares of company stock valued at $1,666,176. Insiders own 30.90% of the company’s stock.

Institutional Investors Weigh In On ARCA biopharma

Several large investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC bought a new stake in shares of ARCA biopharma during the second quarter valued at approximately $59,395,000. Cable Car Capital LLC bought a new stake in ARCA biopharma during the 4th quarter valued at $6,801,000. Driehaus Capital Management LLC purchased a new stake in shares of ARCA biopharma in the 2nd quarter worth $14,731,000. Cowen AND Company LLC purchased a new stake in shares of ARCA biopharma in the 2nd quarter worth $2,681,000. Finally, Affinity Asset Advisors LLC bought a new position in shares of ARCA biopharma during the 2nd quarter worth $278,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

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.