Arca Biopharma (NASDAQ:ABIO) Shares Down 9.5%

Arca Biopharma Inc (NASDAQ:ABIO) shares traded down 9.5% on Wednesday . The stock traded as low as $4.11 and last traded at $4.18. 676,500 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 894,765 shares. The stock had previously closed at $4.62.

The firm’s 50-day moving average is $5.50 and its two-hundred day moving average is $5.37. The company has a market cap of $24.03 million, a P/E ratio of -1.35 and a beta of 2.90.

Arca Biopharma (NASDAQ:ABIO) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($2.58) by $1.85.

In other news, Chairman Robert E. Conway acquired 10,000 shares of the company’s stock in a transaction on Monday, September 21st. The stock was bought at an average cost of $4.77 per share, with a total value of $47,700.00. Following the completion of the purchase, the chairman now directly owns 11,944 shares of the company’s stock, valued at $56,972.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.97% of the stock is owned by insiders.

An institutional investor recently raised its position in Arca Biopharma stock. Acadian Asset Management LLC grew its stake in shares of Arca Biopharma Inc (NASDAQ:ABIO) by 64.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,423 shares of the biopharmaceutical company’s stock after acquiring an additional 11,090 shares during the quarter. Acadian Asset Management LLC owned about 1.79% of Arca Biopharma worth $80,000 as of its most recent SEC filing. 2.30% of the stock is owned by institutional investors and hedge funds.

Arca Biopharma Company Profile (NASDAQ:ABIO)

ARCA biopharma, Inc is a biopharmaceutical company applying a precision medicine approach to developing genetically-targeted therapies for cardiovascular diseases. Its lead product candidate, Gencaro (bucindolol hydrochloride), is an investigational, pharmacologically unique beta-blocker and mild vasodilator, which is in the development for the treatment of atrial fibrillation in certain patients who also have heart failure (HF).

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