ARCA biopharma (NASDAQ:ABIO) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of ARCA biopharma (NASDAQ:ABIO) to a sell rating in a research report sent to investors on Tuesday.

ARCA biopharma Price Performance

ABIO opened at $3.29 on Tuesday. ARCA biopharma has a 12 month low of $1.56 and a 12 month high of $4.49. The stock has a market capitalization of $47.67 million, a price-to-earnings ratio of -7.82 and a beta of 0.90. The business has a fifty day moving average price of $3.44 and a 200 day moving average price of $2.60.

ARCA biopharma (NASDAQ:ABIO) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($0.14) EPS for the quarter.

Insider Activity

In other ARCA biopharma news, major shareholder Henderson Group Plc Janus bought 55,463 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was acquired at an average cost of $3.46 per share, with a total value of $191,901.98. Following the purchase, the insider now owns 1,796,775 shares in the company, valued at approximately $6,216,841.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders bought 297,323 shares of company stock valued at $1,042,832. Insiders own 30.90% of the company’s stock.

Hedge Funds Weigh In On ARCA biopharma

A hedge fund recently bought a new stake in ARCA biopharma stock. Cable Car Capital LLC bought a new stake in shares of ARCA biopharma, Inc. (NASDAQ:ABIO) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,000,452 shares of the biopharmaceutical company’s stock, valued at approximately $6,801,000. ARCA biopharma comprises about 7.6% of Cable Car Capital LLC’s holdings, making the stock its 4th biggest position. Cable Car Capital LLC owned about 27.59% of ARCA biopharma at the end of the most recent reporting period. 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.