ARCA biopharma (NASDAQ:ABIO) Earns Sell Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a research note issued to investors on Friday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

ARCA biopharma Stock Performance

ARCA biopharma has a 52 week low of $1.56 and a 52 week high of $4.49. The business’s 50 day moving average is $416.18 and its two-hundred day moving average is $409.54. The firm has a market capitalization of $34.82 million, a PE ratio of -5.71 and a beta of 0.91.

ARCA biopharma (NASDAQ:ABIO) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($25.92) earnings per share for the quarter.

Insiders Place Their Bets

In other ARCA biopharma news, major shareholder Henderson Group Plc Janus bought 1,153 shares of ARCA biopharma stock in a transaction on Wednesday, July 3rd. The shares were purchased at an average cost of $511.20 per share, for a total transaction of $589,413.60. Following the completion of the acquisition, the insider now owns 11,448 shares in the company, valued at approximately $5,852,217.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders have acquired 3,421 shares of company stock worth $1,666,176. Corporate insiders own 30.90% of the company’s stock.

Institutional Trading of ARCA biopharma

A number of institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC bought a new stake in shares of ARCA biopharma in the second quarter valued at about $59,395,000. Cable Car Capital LLC bought a new stake in shares of ARCA biopharma in the fourth quarter valued at about $6,801,000. Driehaus Capital Management LLC acquired a new stake in shares of ARCA biopharma in the second quarter valued at about $14,731,000. Cowen AND Company LLC acquired a new stake in shares of ARCA biopharma in the second quarter valued at about $2,681,000. Finally, Renaissance Technologies LLC increased its position in shares of ARCA biopharma by 11.3% in the second quarter. Renaissance Technologies LLC now owns 73,099 shares of the biopharmaceutical company’s stock valued at $280,000 after acquiring an additional 7,400 shares during the last quarter. 56.44% of the stock is currently owned by institutional investors.

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.