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

StockNews.com assumed coverage on shares of ARCA biopharma (NASDAQ:ABIO) in a research note released on Thursday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

ARCA biopharma Price Performance

The firm has a market capitalization of $34.82 million, a PE ratio of -5.71 and a beta of 0.91. The business has a 50-day moving average of $447.43 and a 200 day moving average of $416.95. 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 earnings results on Thursday, August 1st. The biopharmaceutical company reported ($25.92) earnings per share (EPS) for the quarter.

ARCA biopharma Announces Dividend

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

Insider Activity

In other news, major shareholder Henderson Group Plc Janus bought 1,318 shares of ARCA biopharma stock in a transaction dated Wednesday, July 24th. The shares were acquired at an average cost of $460.80 per share, with a total value of $607,334.40. Following the completion of the transaction, the insider now owns 14,452 shares in the company, valued at approximately $6,659,481.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders purchased 3,421 shares of company stock worth $1,666,176. 30.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ARCA biopharma

Hedge funds have recently bought and sold shares of the business. Cable Car Capital LLC bought a new stake in shares of ARCA biopharma in the 4th quarter worth about $6,801,000. Cowen AND Company LLC bought a new stake in ARCA biopharma in the second quarter valued at about $2,681,000. Renaissance Technologies LLC raised its stake in ARCA biopharma by 11.3% during the second quarter. Renaissance Technologies LLC now owns 73,099 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 7,400 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in ARCA biopharma during the 2nd quarter worth approximately $106,000. Finally, Affinity Asset Advisors LLC acquired a new position in shares of ARCA biopharma in the 2nd quarter worth approximately $278,000. Institutional investors and hedge funds 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.