ARCA biopharma (NASDAQ:ABIO) Now Covered by StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of ARCA biopharma (NASDAQ:ABIOGet Rating) in a report released on Saturday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Shares of NASDAQ ABIO opened at $2.35 on Friday. ARCA biopharma has a 12 month low of $1.71 and a 12 month high of $3.84. The company has a 50 day simple moving average of $2.34 and a two-hundred day simple moving average of $2.21. The stock has a market cap of $33.86 million, a price-to-earnings ratio of -1.81 and a beta of 2.20.

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

In other ARCA biopharma news, insider Fund Lp Funicular acquired 13,072 shares of the firm’s stock in a transaction on Wednesday, May 18th. The stock was acquired at an average cost of $2.30 per share, for a total transaction of $30,065.60. Following the purchase, the insider now owns 2,495,189 shares in the company, valued at approximately $5,738,934.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have acquired 477,241 shares of company stock valued at $1,092,974. Company insiders own 0.48% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of ARCA biopharma by 13.1% in the 1st quarter. Vanguard Group Inc. now owns 459,562 shares of the biopharmaceutical company’s stock valued at $1,057,000 after purchasing an additional 53,279 shares during the period. Geode Capital Management LLC lifted its stake in shares of ARCA biopharma by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 95,358 shares of the biopharmaceutical company’s stock valued at $282,000 after purchasing an additional 7,699 shares during the period. Morgan Stanley raised its position in ARCA biopharma by 952.5% during the first quarter. Morgan Stanley now owns 40,744 shares of the biopharmaceutical company’s stock worth $149,000 after acquiring an additional 36,873 shares during the period. Dimensional Fund Advisors LP acquired a new position in ARCA biopharma during the fourth quarter worth $91,000. Finally, Millennium Management LLC raised its position in ARCA biopharma by 79.2% during the fourth quarter. Millennium Management LLC now owns 28,448 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 12,574 shares during the period. Hedge funds and other institutional investors own 28.12% of the company’s stock.

ARCA biopharma Company Profile (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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