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

Stock analysts at StockNews.com assumed coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a report issued on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

ARCA biopharma Trading Up 2.9 %

Shares of ARCA biopharma stock opened at $3.58 on Friday. The company’s fifty day simple moving average is $2.27 and its two-hundred day simple moving average is $1.94. ARCA biopharma has a 12-month low of $1.56 and a 12-month high of $3.88. The company has a market cap of $51.91 million, a P/E ratio of -8.52 and a beta of 1.17.

ARCA biopharma (NASDAQ:ABIO) last released its quarterly 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. Cable Car Capital LLC purchased a new stake in shares of ARCA biopharma, Inc. (NASDAQ:ABIO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,000,452 shares of the biopharmaceutical company’s stock, valued at approximately $6,801,000. ARCA biopharma accounts for approximately 7.6% of Cable Car Capital LLC’s investment portfolio, making the stock its 4th biggest holding. Cable Car Capital LLC owned 27.59% of ARCA biopharma as of its most recent SEC filing. 56.44% of the stock is currently owned by institutional investors.

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.