ARCA biopharma (NASDAQ:ABIO) Coverage Initiated by Analysts at StockNews.com

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

ARCA biopharma Stock Performance

ABIO stock opened at $3.65 on Friday. The stock has a market capitalization of $52.93 million, a P/E ratio of -9.86 and a beta of 1.17. ARCA biopharma has a one year low of $1.56 and a one year high of $3.88. The company has a 50 day moving average price of $2.15 and a two-hundred day moving average price of $1.91.

ARCA biopharma (NASDAQ:ABIO) last released its earnings results on Thursday, February 1st. The biopharmaceutical company reported ($0.08) 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 acquired a new stake in shares of ARCA biopharma, Inc. (NASDAQ:ABIO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,000,452 shares of the biopharmaceutical company’s stock, valued at approximately $6,801,000. ARCA biopharma accounts for approximately 7.6% of Cable Car Capital LLC’s holdings, making the stock its 4th largest holding. Cable Car Capital LLC owned 27.59% of ARCA biopharma as of its most recent SEC filing. Institutional investors 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.