ARCA biopharma, Inc. (NASDAQ:ABIO) Short Interest Up 6.6% in March

ARCA biopharma, Inc. (NASDAQ:ABIO) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 195,700 shares, an increase of 6.6% from the March 15th total of 183,600 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on ARCA biopharma in a research note on Friday. They issued a “sell” rating on the stock.

ARCA biopharma Price Performance

ARCA biopharma stock opened at $3.18 on Tuesday. The stock’s 50 day moving average is $1.94 and its 200 day moving average is $1.85. The firm has a market cap of $46.11 million, a P/E ratio of -8.59 and a beta of 1.17. ARCA biopharma has a one year low of $1.56 and a one year high of $3.88.

ARCA biopharma (NASDAQ:ABIO) last posted its quarterly earnings data on Thursday, February 1st. The biopharmaceutical company reported ($0.08) EPS for the quarter.

Hedge Funds Weigh In On ARCA biopharma

Institutional investors have recently added to or reduced their stakes in the business. Western Standard LLC acquired a new position in ARCA biopharma in the second quarter valued at approximately $1,279,000. Vanguard Group Inc. lifted its stake in ARCA biopharma by 13.1% in the first quarter. Vanguard Group Inc. now owns 459,562 shares of the biopharmaceutical company’s stock valued at $1,057,000 after buying an additional 53,279 shares during the period. Millennium Management LLC lifted its stake in ARCA biopharma by 419.7% in the second quarter. Millennium Management LLC now owns 59,370 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 47,946 shares during the period. Renaissance Technologies LLC acquired a new position in ARCA biopharma in the second quarter valued at approximately $81,000. Finally, Virtu Financial LLC acquired a new position in ARCA biopharma in the first quarter valued at approximately $55,000. 56.44% of the stock is owned by institutional investors and hedge funds.

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.