Equities researchers at StockNews.com started coverage on shares of ARCA biopharma (NASDAQ:ABIO – Get Rating) in a research report issued to clients and investors on Thursday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.
ARCA biopharma Stock Performance
Shares of NASDAQ:ABIO opened at $2.17 on Thursday. ARCA biopharma has a 52-week low of $1.76 and a 52-week high of $2.70. The stock has a market capitalization of $31.41 million, a price-to-earnings ratio of -3.14 and a beta of 1.47. The stock’s 50-day simple moving average is $2.24 and its two-hundred day simple moving average is $2.20.
Institutional Trading of ARCA biopharma
A number of large investors have recently added to or reduced their stakes in ABIO. Vanguard Group Inc. increased its position in shares of ARCA biopharma by 13.1% during 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 last quarter. Millennium Management LLC lifted its stake in shares of ARCA biopharma by 419.7% during the 2nd quarter. Millennium Management LLC now owns 59,370 shares of the biopharmaceutical company’s stock worth $148,000 after purchasing an additional 47,946 shares during the last quarter. Renaissance Technologies LLC acquired a new position in ARCA biopharma during the 2nd quarter valued at about $81,000. Virtu Financial LLC acquired a new position in ARCA biopharma during the 1st quarter valued at about $55,000. Finally, Jane Street Group LLC acquired a new position in ARCA biopharma during the 4th quarter valued at about $35,000. Institutional investors own 15.42% of the company’s stock.
ARCA biopharma Company Profile
ARCA biopharma, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of targeted therapies for cardiovascular diseases. The firm focuses on the cardiovascular pathophysiology, molecular genetics, and clinical development. Its product candidate, Gencaro is a pharmacologic beta-blocker and mild vasodilator, which is developed for the treatment of chronic heart failure and other indications.
- Get a free copy of the StockNews.com research report on ARCA biopharma (ABIO)
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