Short Interest in ARCA biopharma, Inc. (NASDAQ:ABIO) Rises By 2,792.2%

ARCA biopharma, Inc. (NASDAQ:ABIO) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 5,660,000 shares, a growth of 2,792.2% from the March 31st total of 195,700 shares. Based on an average trading volume of 1,380,000 shares, the short-interest ratio is presently 4.1 days. Approximately 39.6% of the shares of the stock are sold short.

ARCA biopharma Stock Performance

Shares of NASDAQ:ABIO opened at $3.48 on Friday. The firm has a 50 day simple moving average of $2.19 and a 200 day simple moving average of $1.92. ARCA biopharma has a 52 week low of $1.56 and a 52 week high of $3.88. The company has a market cap of $50.46 million, a PE ratio of -9.41 and a beta of 1.17.

ARCA biopharma (NASDAQ:ABIO) last issued its earnings results on Thursday, February 1st. The biopharmaceutical company reported ($0.08) earnings per share for the quarter.

Institutional Trading of ARCA biopharma

An institutional investor recently bought a new position in ARCA biopharma stock. abrdn plc bought a new stake in ARCA biopharma, Inc. (NASDAQ:ABIO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on ARCA biopharma in a report on Saturday, April 20th. They set a “sell” rating for the company.

About ARCA biopharma

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.