ARCA biopharma (NASDAQ:ABIO) Upgraded at StockNews.com

StockNews.com upgraded shares of ARCA biopharma (NASDAQ:ABIO) to a sell rating in a research report released on Tuesday morning.

ARCA biopharma Stock Performance

ARCA biopharma has a 1-year low of $1.56 and a 1-year high of $4.49. The company has a market capitalization of $34.82 million, a PE ratio of -5.71 and a beta of 0.91. The stock’s 50-day moving average price is $457.66 and its 200 day moving average price is $418.62.

ARCA biopharma (NASDAQ:ABIO) last issued 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 declared a dividend, which was paid on Wednesday, August 28th. Stockholders of record on Monday, August 26th were given a $228.96 dividend. The ex-dividend date of this dividend was Thursday, August 29th.

Insider Activity

In other ARCA biopharma news, major shareholder Henderson Group Plc Janus purchased 196 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was bought at an average cost of $493.92 per share, for a total transaction of $96,808.32. Following the completion of the transaction, the insider now owns 11,645 shares in the company, valued at $5,751,698.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders acquired 3,421 shares of company stock worth $1,666,176. Corporate insiders own 30.90% of the company’s stock.

Institutional Investors Weigh In On ARCA biopharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in ARCA biopharma during the second quarter valued at approximately $106,000. Affinity Asset Advisors LLC acquired a new position in ARCA biopharma during the second quarter valued at approximately $278,000. Renaissance Technologies LLC raised its position 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 purchasing an additional 7,400 shares in the last quarter. Cowen AND Company LLC acquired a new position in ARCA biopharma during the second quarter valued at approximately $2,681,000. Finally, Cable Car Capital LLC acquired a new position in ARCA biopharma during the fourth quarter valued at approximately $6,801,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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.