The stock of Arca Biopharma Inc (NASDAQ:ABIO) hit a new 52-week low and has $1.98 target or 12.00% below today’s $2.25 share price. The 8 months bearish chart indicates high risk for the $19.49M company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $1.98 price target is reached, the company will be worth $2.34M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock increased 4.65% or $0.1 on November 9, hitting $2.25. About 11,081 shares traded hands. Arca Biopharma Inc (NASDAQ:ABIO) has declined 39.61% since April 7, 2016 and is downtrending. It has underperformed by 44.39% the S&P500.
Analysts await Arca Biopharma Inc (NASDAQ:ABIO) to report earnings on November, 10.
According to Zacks Investment Research, “ARCA biopharma, Inc., a biopharmaceutical company, develops genetically-targeted therapies for heart failure and cardiovascular diseases. It is positioned to bring personalized therapies for the treatment of cardiovascular disease, through the use of genetics. Complementing the Company’s cardiovascular science, ARCA’s management team has significant experience in developing and commercializing cardiovascular products. The Company’s business focus combines expertise in cardiovascular pathophysiology, molecular genetics, clinical development and product commercialization. It is currently developing Gencaro (bucindolol hydrochloride), a cardiovascular drug for the treatment of chronic heart failure. The company is based in Broomfield, Colorado.”
More notable recent Arca Biopharma Inc (NASDAQ:ABIO) news were published by: Businesswire.com which released: “ARCA biopharma Announces Randomization of First European Patients in GENETIC …” on October 06, 2016, also Businesswire.com with their article: “ARCA biopharma Announces $37 Million Private Placement” published on June 11, 2015, Seekingalpha.com published: “Why Arca Biopharma Is A Buy” on January 14, 2014. More interesting news about Arca Biopharma Inc (NASDAQ:ABIO) were released by: Reuters.com and their article: “BRIEF-ARCA Biopharma announces randomization of first European patients in…” published on October 06, 2016 as well as Businesswire.com‘s news article titled: “ARCA biopharma Announces 75th Patient Enrolled in GENETIC-AF Phase 2B/3 …” with publication date: April 18, 2016.
ABIO Company Profile
ARCA biopharma, Inc. (ARCA), incorporated on March 16, 2004, is a biopharmaceutical company. The Firm is principally focused on developing genetically-targeted therapies for cardiovascular diseases. The Company’s lead product candidate is Gencaro (bucindolol hydrochloride), a beta-blocker and mild vasodilator that the Company is evaluating in a clinical trial for the treatment of atrial fibrillation (AF) in patients with heart failure with reduced left ventricular ejection fraction (HFREF). Gencaro is considered part of the beta-blocker class of compounds because of its property of blocking both beta-1 and beta-2, receptors in the heart. The blocking of these receptors prevents the receptor from binding with other molecules, primarily the neurotransmitter norepinephrine (NE), which activate these receptors.
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