ARCA biopharma (NASDAQ:ABIO) Now Covered by StockNews.com

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

ARCA biopharma Stock Performance

The firm has a market cap of $34.82 million, a PE ratio of -5.71 and a beta of 0.91. ARCA biopharma has a fifty-two week low of $1.56 and a fifty-two week high of $4.49. The stock has a 50-day moving average price of $394.93 and a 200-day moving average price of $406.31.

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

ARCA biopharma Announces Dividend

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

Insider Buying and Selling at ARCA biopharma

In related news, major shareholder Henderson Group Plc Janus purchased 1,153 shares of ARCA biopharma stock in a transaction on Wednesday, July 3rd. The stock was acquired at an average cost of $511.20 per share, for a total transaction of $589,413.60. Following the completion of the acquisition, the insider now owns 11,448 shares of the company’s stock, valued at approximately $5,852,217.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have acquired 3,421 shares of company stock valued at $1,666,176. 30.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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