ARCA biopharma, Inc. (NASDAQ:ABIO) Sees Significant Decrease in Short Interest

ARCA biopharma, Inc. (NASDAQ:ABIOGet Rating) saw a large decrease in short interest in May. As of May 31st, there was short interest totalling 167,700 shares, a decrease of 17.3% from the May 15th total of 202,900 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 146,200 shares, the days-to-cover ratio is currently 1.1 days.

In other ARCA biopharma news, insider Fund Lp Funicular acquired 26,806 shares of the company’s stock in a transaction dated Wednesday, April 6th. The stock was bought at an average price of $2.30 per share, for a total transaction of $61,653.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders bought 477,241 shares of company stock valued at $1,092,974. Corporate insiders own 0.48% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of ARCA biopharma by 8.8% in the third quarter. Geode Capital Management LLC now owns 95,358 shares of the biopharmaceutical company’s stock valued at $282,000 after acquiring an additional 7,699 shares during the period. Millennium Management LLC raised its stake in ARCA biopharma by 79.2% in the fourth quarter. Millennium Management LLC now owns 28,448 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 12,574 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in ARCA biopharma in the second quarter valued at about $49,000. Marquette Asset Management LLC acquired a new position in ARCA biopharma in the first quarter valued at about $40,000. Finally, Virtu Financial LLC acquired a new position in ARCA biopharma in the first quarter valued at about $55,000. 28.12% of the stock is owned by hedge funds and other institutional investors.

Separately, began coverage on shares of ARCA biopharma in a research note on Friday, June 10th. They issued a “sell” rating on the stock.

Shares of ABIO stock opened at $2.27 on Thursday. The company has a market capitalization of $32.71 million, a P/E ratio of -1.75 and a beta of 2.20. The company’s 50 day moving average price is $2.34 and its two-hundred day moving average price is $2.21. ARCA biopharma has a 52 week low of $1.71 and a 52 week high of $3.84.

ARCA biopharma (NASDAQ:ABIOGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter.

About ARCA biopharma (Get Rating)

ARCA biopharma, Inc, a clinical-stage biopharmaceutical company, develops and commercializes genetically targeted therapies for cardiovascular diseases. Its lead product candidates are Recombinant Nematode Anticoagulant Protein c2 (rNAPc2) (AB201), which is in Phase IIb clinical trial for the treatment for COVID-19; and Gencaro (bucindolol hydrochloride), a pharmacogenetically-targeted beta-adrenergic receptor antagonist that has completed Phase IIb trial for the treatment of atrial fibrillation in patients with chronic heart failure.

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