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 report published on Tuesday.

ARCA biopharma Stock Performance

The business has a 50 day moving average of $457.66 and a 200 day moving average of $418.62. The stock has a market cap of $34.82 million, a PE ratio of -5.71 and a beta of 0.91. ARCA biopharma has a 12 month low of $1.56 and a 12 month high of $4.49.

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

ARCA biopharma Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, August 28th. Stockholders of record on Monday, August 26th were issued a $228.96 dividend. The ex-dividend date of this dividend was Thursday, August 29th.

Insider Activity at ARCA biopharma

In related news, major shareholder Henderson Group Plc Janus purchased 1,153 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were acquired at an average cost of $511.20 per share, with a total value of $589,413.60. Following the purchase, the insider now directly owns 11,448 shares of the company’s stock, valued at $5,852,217.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have acquired 3,421 shares of company stock valued at $1,666,176. Insiders own 30.90% of the company’s stock.

Hedge Funds Weigh In On ARCA biopharma

Several hedge funds have recently made changes to their positions in ABIO. Perceptive Advisors LLC purchased a new position in shares of ARCA biopharma during the second quarter valued at about $59,395,000. Cable Car Capital LLC purchased a new position in shares of ARCA biopharma during the 4th quarter worth approximately $6,801,000. Driehaus Capital Management LLC bought a new position in shares of ARCA biopharma in the 2nd quarter worth approximately $14,731,000. Cowen AND Company LLC purchased a new position in shares of ARCA biopharma in the 2nd quarter valued at approximately $2,681,000. Finally, Affinity Asset Advisors LLC bought a new stake in shares of ARCA biopharma during the second quarter valued at approximately $278,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

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.