ARCA biopharma (NASDAQ:ABIO) Earns Sell Rating from Analysts at StockNews.com

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

ARCA biopharma Trading Up 1.5 %

Shares of NASDAQ ABIO opened at $3.45 on Friday. The stock has a market capitalization of $50.03 million, a PE ratio of -9.32 and a beta of 1.17. The stock’s fifty day simple moving average is $2.11 and its two-hundred day simple moving average is $1.90. ARCA biopharma has a 12-month low of $1.56 and a 12-month high of $3.88.

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

Hedge Funds Weigh In On ARCA biopharma

An institutional investor recently bought a new position in ARCA biopharma stock. abrdn plc purchased a new stake in shares of ARCA biopharma, Inc. (NASDAQ:ABIO) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 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.

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.