ARCA biopharma (NASDAQ:ABIO) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a research report report published on Saturday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

ARCA biopharma Stock Performance

ARCA biopharma has a 1 year low of $1.56 and a 1 year high of $4.49. The firm’s fifty day moving average is $384.99 and its 200-day moving average is $404.69. The company has a market capitalization of $34.82 million, a price-to-earnings ratio of -5.71 and a beta of 0.91.

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

ARCA biopharma Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, August 28th. Stockholders of record on Monday, August 26th were given a dividend of $228.96 per share. The ex-dividend date of this dividend was Thursday, August 29th.

Insider Transactions at ARCA biopharma

In other news, major shareholder Henderson Group Plc Janus acquired 1,318 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were acquired at an average cost of $460.80 per share, for a total transaction of $607,334.40. Following the purchase, the insider now owns 14,452 shares of the company’s stock, valued at approximately $6,659,481.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders bought 2,268 shares of company stock worth $1,076,763. 30.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Cable Car Capital LLC bought a new position in ARCA biopharma in the 4th quarter worth about $6,801,000. Cubist Systematic Strategies LLC purchased a new position in ARCA biopharma during the second quarter valued at $106,000. Renaissance Technologies LLC boosted its holdings in ARCA biopharma by 11.3% in the second quarter. Renaissance Technologies LLC now owns 73,099 shares of the biopharmaceutical company’s stock worth $280,000 after acquiring an additional 7,400 shares in the last quarter. Perceptive Advisors LLC purchased a new position in ARCA biopharma in the 2nd quarter worth approximately $59,395,000. Finally, Driehaus Capital Management LLC purchased a new stake in shares of ARCA biopharma during the second quarter valued at $14,731,000. 56.44% of the stock is currently owned by hedge funds and other 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.