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

StockNews.com started coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a research note issued to investors on Wednesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

ARCA biopharma Stock Up 0.6 %

ABIO stock opened at $1.76 on Wednesday. The stock has a market cap of $25.52 million, a PE ratio of -4.76 and a beta of 1.16. The firm’s 50-day simple moving average is $1.66 and its 200 day simple moving average is $1.79. ARCA biopharma has a fifty-two week low of $1.56 and a fifty-two week high of $2.16.

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

Hedge Funds Weigh In On ARCA biopharma

Several large investors have recently bought and sold shares of the stock. Cable Car Capital LLC bought a new position in shares of ARCA biopharma during the 4th quarter valued at about $6,801,000. Western Standard LLC bought a new position in shares of ARCA biopharma during the 2nd quarter valued at about $1,279,000. Vanguard Group Inc. boosted its position in shares of ARCA biopharma by 13.1% during the 1st quarter. Vanguard Group Inc. now owns 459,562 shares of the biopharmaceutical company’s stock valued at $1,057,000 after purchasing an additional 53,279 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of ARCA biopharma by 419.7% in the second quarter. Millennium Management LLC now owns 59,370 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 47,946 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of ARCA biopharma in the second quarter worth about $81,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

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.