Shares of Arca Biopharma Inc (NASDAQ:ABIO) saw unusually-high trading volume on Wednesday . Approximately 2,259,200 shares traded hands during mid-day trading, an increase of 559% from the previous session’s volume of 342,815 shares.The stock last traded at $6.45 and had previously closed at $5.70.

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

The business has a 50-day simple moving average of $5.86 and a 200 day simple moving average of $5.59.

Arca Biopharma (NASDAQ:ABIO) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates 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 Arca Biopharma Inc (NASDAQ:ABIO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing. Institutional investors own 18.81% of the company’s stock.

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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