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

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

ARCA biopharma Stock Down 4.2 %

Shares of ABIO stock opened at $3.43 on Friday. The stock has a 50-day simple moving average of $2.30 and a 200 day simple moving average of $1.95. The stock has a market capitalization of $49.77 million, a P/E ratio of -8.17 and a beta of 1.17. ARCA biopharma has a fifty-two week low of $1.56 and a fifty-two week high of $3.88.

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

Institutional Trading of ARCA biopharma

A hedge fund recently bought a new stake in ARCA biopharma stock. Cable Car Capital LLC bought a new position in ARCA biopharma, Inc. (NASDAQ:ABIO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,000,452 shares of the biopharmaceutical company’s stock, valued at approximately $6,801,000. ARCA biopharma makes up about 7.6% of Cable Car Capital LLC’s holdings, making the stock its 4th biggest holding. Cable Car Capital LLC owned approximately 27.59% of ARCA biopharma at the end of the most recent quarter. 56.44% of the stock is currently 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.