Arca Biopharma (NASDAQ:ABIO) Shares Cross Above 50 Day Moving Average of $5.45

Arca Biopharma Inc (NASDAQ:ABIO) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.45 and traded as high as $5.42. Arca Biopharma shares last traded at $5.42, with a volume of 100 shares changing hands.

Separately, ValuEngine raised shares of Arca Biopharma from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

The company’s 50-day simple moving average is $5.45 and its 200-day simple moving average is $6.49.

Arca Biopharma (NASDAQ:ABIO) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.86) by $0.72.

A hedge fund recently bought a new stake in Arca Biopharma stock. Quantamental Technologies LLC acquired a new position in shares of Arca Biopharma Inc (NASDAQ:ABIO) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,148 shares of the biopharmaceutical company’s stock, valued at approximately $38,000. Quantamental Technologies LLC owned about 0.35% of Arca Biopharma as of its most recent filing with the SEC. 18.81% of the stock is currently owned by institutional investors and hedge funds.

About Arca Biopharma (NASDAQ:ABIO)

ARCA biopharma, Inc is a biopharmaceutical company applying a precision medicine approach to developing genetically-targeted therapies for cardiovascular diseases. Its lead product candidate, Gencaro (bucindolol hydrochloride), is an investigational, pharmacologically unique beta-blocker and mild vasodilator, which is in the development for the treatment of atrial fibrillation in certain patients who also have heart failure (HF).

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