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

StockNews.com began coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a research note released on Thursday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

ARCA biopharma Stock Performance

ARCA biopharma stock opened at $2.06 on Thursday. ARCA biopharma has a 12 month low of $1.85 and a 12 month high of $2.70. The business has a 50 day simple moving average of $2.05 and a 200-day simple moving average of $2.07.

ARCA biopharma (NASDAQ:ABIO) last released its quarterly earnings results on Friday, July 21st. The biopharmaceutical company reported ($0.10) EPS for the quarter.

Institutional Investors Weigh In On ARCA biopharma

Several large investors have recently modified their holdings of ABIO. BML Capital Management LLC purchased a new position in ARCA biopharma in the fourth quarter worth $2,034,000. Western Standard LLC purchased a new position in ARCA biopharma in the second quarter worth $1,279,000. Vanguard Group Inc. raised its position in ARCA biopharma by 13.1% in the first quarter. Vanguard Group Inc. now owns 459,562 shares of the biopharmaceutical company’s stock worth $1,057,000 after acquiring an additional 53,279 shares in the last quarter. Millennium Management LLC raised its position in 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 acquiring an additional 47,946 shares in the last quarter. Finally, Murchinson Ltd. purchased a new position in ARCA biopharma in the fourth quarter worth $120,000.

ARCA biopharma Company Profile

ARCA biopharma, Inc, a clinical development stage biopharmaceutical company, engages in the development and commercialization of genetically 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 chronic heart failure.