ARCA biopharma, Inc. (NASDAQ:ABIO) Short Interest Update

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

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of ARCA biopharma in a research report on Friday, April 12th. They set a “sell” rating on the stock.

Hedge Funds Weigh In On ARCA biopharma

Several hedge funds have recently made changes to their positions in the business. HRT Financial LP purchased a new position in shares of ARCA biopharma in the first quarter worth approximately $28,000. Jane Street Group LLC purchased a new position in shares of ARCA biopharma in the fourth quarter worth approximately $35,000. Charles Schwab Investment Management Inc. purchased a new position in shares of ARCA biopharma in the first quarter worth approximately $30,000. Virtu Financial LLC purchased a new position in shares of ARCA biopharma in the first quarter worth approximately $55,000. Finally, abrdn plc purchased a new position in ARCA biopharma during the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

ARCA biopharma Price Performance

Shares of ABIO opened at $3.21 on Thursday. The firm’s 50 day moving average is $2.01 and its 200-day moving average is $1.87. The stock has a market capitalization of $46.55 million, a P/E ratio of -8.68 and a beta of 1.17. ARCA biopharma has a 12-month low of $1.56 and a 12-month high of $3.88.

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