ARCA biopharma (NASDAQ:ABIO) Now Covered by 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 12-month low of $1.56 and a 12-month high of $4.49. The stock’s 50-day moving average price is $384.99 and its two-hundred day moving average price is $404.69. The company has a market cap of $34.82 million, a P/E ratio of -5.71 and a beta of 0.91.

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

ARCA biopharma Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, August 28th. Shareholders of record on Monday, August 26th were issued a $228.96 dividend. The ex-dividend date of this dividend was Thursday, August 29th.

Insider Activity

In other news, major shareholder Henderson Group Plc Janus bought 329 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were acquired at an average price of $498.24 per share, for a total transaction of $163,920.96. Following the completion of the transaction, the insider now directly owns 11,974 shares in the company, valued at approximately $5,965,925.76. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought a total of 2,268 shares of company stock worth $1,076,763 over the last quarter. 30.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ARCA biopharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of ARCA biopharma in the second quarter valued at $106,000. Affinity Asset Advisors LLC purchased a new stake in shares of ARCA biopharma in the 2nd quarter valued at about $278,000. Renaissance Technologies LLC lifted its holdings in shares of ARCA biopharma by 11.3% in the 2nd quarter. Renaissance Technologies LLC now owns 73,099 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 7,400 shares during the last quarter. Cowen AND Company LLC purchased a new stake in ARCA biopharma during the 2nd quarter valued at approximately $2,681,000. Finally, Driehaus Capital Management LLC purchased a new stake in ARCA biopharma during the 2nd quarter valued at approximately $14,731,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.

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.