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

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

ARCA biopharma Price Performance

NASDAQ:ABIO opened at $3.36 on Monday. The firm has a market capitalization of $48.74 million, a P/E ratio of -8.00 and a beta of 0.89. The company’s fifty day moving average price is $2.53 and its 200-day moving average price is $2.01. ARCA biopharma has a 1-year low of $1.56 and a 1-year high of $3.88.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ARCA biopharma stock. abrdn plc acquired a new stake in ARCA biopharma, Inc. (NASDAQ:ABIO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 32,461 shares of the biopharmaceutical company’s stock, valued at approximately $55,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.

ARCA biopharma Company Profile

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.