ARCA biopharma (NASDAQ:ABIO) Research Coverage Started at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of ARCA biopharma (NASDAQ:ABIO – Get Rating) in a research note issued on Friday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

ARCA biopharma Stock Performance

Shares of ABIO opened at $2.14 on Friday. ARCA biopharma has a 52-week low of $1.76 and a 52-week high of $2.70. The business’s fifty day moving average is $2.20 and its 200-day moving average is $2.19. The firm has a market cap of $31.27 million, a price-to-earnings ratio of -3.10 and a beta of 1.47.

Institutional Investors Weigh In On ARCA biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC bought a new stake in ARCA biopharma during the 4th quarter worth $35,000. BML Capital Management LLC bought a new stake in ARCA biopharma during the 4th quarter worth $2,034,000. Murchinson Ltd. bought a new stake in ARCA biopharma during the 4th quarter worth $120,000. Virtu Financial LLC bought a new stake in ARCA biopharma during the 3rd quarter worth $29,000. Finally, Millennium Management LLC grew its position in ARCA biopharma by 419.7% during the 2nd 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 during the last quarter. Institutional investors own 15.42% of the company’s stock.

ARCA biopharma Company Profile

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ARCA biopharma, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of targeted therapies for cardiovascular diseases. The firm focuses on the cardiovascular pathophysiology, molecular genetics, and clinical development. Its product candidate, Gencaro is a pharmacologic beta-blocker and mild vasodilator, which is developed for the treatment of chronic heart failure and other indications.