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

StockNews.com assumed coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a report released on Monday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

ARCA biopharma Trading Up 0.4 %

NASDAQ ABIO opened at $3.37 on Monday. The stock has a market cap of $48.92 million, a P/E ratio of -8.03 and a beta of 0.89. ARCA biopharma has a 12-month low of $1.56 and a 12-month high of $3.88. The company has a fifty day simple moving average of $2.57 and a two-hundred day simple moving average of $2.02.

Hedge Funds Weigh In On ARCA biopharma

An institutional investor recently bought a new position in ARCA biopharma stock. abrdn plc bought a new position in shares of ARCA biopharma, Inc. (NASDAQ:ABIO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000. 56.44% of the stock is 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.