ARCA biopharma, Inc. (NASDAQ:ABIO – Get Free Report) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 5,660,000 shares, a growth of 2,792.2% from the March 31st total of 195,700 shares. Currently, 39.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,380,000 shares, the short-interest ratio is currently 4.1 days.
Hedge Funds Weigh In On ARCA biopharma
A hedge fund recently bought a new stake in ARCA biopharma stock. abrdn plc purchased a new position in shares of ARCA biopharma, Inc. (NASDAQ:ABIO – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.
ARCA biopharma Trading Down 3.6 %
ARCA biopharma stock traded down $0.13 during mid-day trading on Thursday, reaching $3.50. The company had a trading volume of 48,031 shares, compared to its average volume of 1,125,423. ARCA biopharma has a fifty-two week low of $1.56 and a fifty-two week high of $3.88. The company has a market cap of $50.75 million, a P/E ratio of -9.46 and a beta of 1.17. The business has a fifty day simple moving average of $2.19 and a 200 day simple moving average of $1.92.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on shares of ARCA biopharma in a research report on Saturday, April 20th. They issued a “sell” rating on the stock.
Read Our Latest Stock Analysis on ARCA biopharma
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.
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