ARCA biopharma (NASDAQ:ABIO) Stock Rating Upgraded by StockNews.com

ARCA biopharma (NASDAQ:ABIO) was upgraded by analysts at StockNews.com to a “sell” rating in a report released on Tuesday.

ARCA biopharma Price Performance

The firm has a market cap of $34.82 million, a price-to-earnings ratio of -5.71 and a beta of 0.91. The stock’s 50-day moving average is $457.66 and its 200-day moving average is $418.62. 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 for the quarter.

Insider Buying and Selling

In other news, major shareholder Henderson Group Plc Janus bought 1,318 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was acquired at an average cost of $460.80 per share, with a total value of $607,334.40. Following the completion of the purchase, the insider now owns 14,452 shares of the company’s stock, valued at $6,659,481.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have purchased 3,421 shares of company stock worth $1,666,176. Corporate insiders own 30.90% of the company’s stock.

Hedge Funds Weigh In On ARCA biopharma

Several institutional investors and hedge funds have recently modified their holdings of ABIO. Cubist Systematic Strategies LLC bought a new stake in shares of ARCA biopharma in the second quarter valued at approximately $106,000. Affinity Asset Advisors LLC bought a new position in ARCA biopharma during the 2nd quarter worth approximately $278,000. 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 worth $280,000 after buying an additional 7,400 shares during the last quarter. Cowen AND Company LLC acquired a new position in shares of ARCA biopharma in the 2nd quarter valued at about $2,681,000. Finally, Cable Car Capital LLC acquired a new position in ARCA biopharma in the fourth quarter valued at approximately $6,801,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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.