Equities researchers at StockNews.com began coverage on shares of ARCA biopharma (NASDAQ:ABIO – Get Free Report) 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 – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($25.92) EPS for the quarter.
Insider Buying and Selling
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.
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