ARCA biopharma, Inc. (NASDAQ:ABIO) Short Interest Up 6.6% in March

ARCA biopharma, Inc. (NASDAQ:ABIO) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 195,700 shares, an increase of 6.6% from the March 15th total of 183,600 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of ARCA biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Western Standard LLC acquired a new position in shares of ARCA biopharma during the 2nd quarter worth about $1,279,000. Vanguard Group Inc. grew its position in shares of ARCA biopharma by 13.1% during the 1st quarter. Vanguard Group Inc. now owns 459,562 shares of the biopharmaceutical company’s stock worth $1,057,000 after buying an additional 53,279 shares during the period. Millennium Management LLC grew its position in shares of ARCA biopharma by 419.7% during the 2nd quarter. Millennium Management LLC now owns 59,370 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 47,946 shares during the period. Renaissance Technologies LLC acquired a new position in shares of ARCA biopharma during the 2nd quarter worth about $81,000. Finally, Virtu Financial LLC acquired a new position in shares of ARCA biopharma during the 1st quarter worth about $55,000. 56.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on ARCA biopharma in a report on Friday. They issued a “sell” rating for the company.

ARCA biopharma Trading Down 1.5 %

Shares of NASDAQ:ABIO opened at $3.18 on Tuesday. The stock has a market capitalization of $46.11 million, a P/E ratio of -8.59 and a beta of 1.17. ARCA biopharma has a 1-year low of $1.56 and a 1-year high of $3.88. The business has a 50-day moving average price of $1.94 and a two-hundred day moving average price of $1.85.

ARCA biopharma (NASDAQ:ABIO) last announced its quarterly earnings data on Thursday, February 1st. The biopharmaceutical company reported ($0.08) earnings per share for the quarter.

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.