ARCA biopharma (NASDAQ:ABIO) Research Coverage Started at StockNews.com

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

ARCA biopharma Stock Performance

The stock has a market capitalization of $34.82 million, a price-to-earnings ratio of -5.71 and a beta of 0.91. The business’s fifty day moving average is $416.18 and its two-hundred day moving average is $409.54. ARCA biopharma has a twelve month low of $1.56 and a twelve month high of $4.49.

ARCA biopharma (NASDAQ:ABIO) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($25.92) EPS for the quarter.

Insider Buying and Selling

In other news, major shareholder Henderson Group Plc Janus bought 196 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was bought at an average price of $493.92 per share, with a total value of $96,808.32. Following the completion of the transaction, the insider now directly owns 11,645 shares of the company’s stock, valued at approximately $5,751,698.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 3,421 shares of company stock worth $1,666,176 in the last 90 days. 30.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ABIO. Cubist Systematic Strategies LLC purchased a new stake in shares of ARCA biopharma during the second quarter worth about $106,000. Affinity Asset Advisors LLC purchased a new position in shares of ARCA biopharma in the 2nd quarter valued at approximately $278,000. Renaissance Technologies LLC boosted its stake in ARCA biopharma by 11.3% in the 2nd quarter. Renaissance Technologies LLC now owns 73,099 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 7,400 shares in the last quarter. Cowen AND Company LLC purchased a new stake in ARCA biopharma during the 2nd quarter worth approximately $2,681,000. Finally, Cable Car Capital LLC acquired a new position in ARCA biopharma during the 4th quarter valued at approximately $6,801,000. 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.