ARCA biopharma Stock Scheduled to Reverse Split on Tuesday, September 3rd (NASDAQ:ABIO)

ARCA biopharma, Inc. (NASDAQ:ABIO) shares are going to reverse split on Tuesday, September 3rd. The 1-12 reverse split was announced on Friday, August 23rd. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, August 30th.

ARCA biopharma Price Performance

NASDAQ ABIO traded down $0.35 on Monday, hitting $3.81. The stock had a trading volume of 495,895 shares, compared to its average volume of 604,719. The stock has a market cap of $55.27 million, a price-to-earnings ratio of -8.93 and a beta of 0.91. The business’s fifty day moving average price is $3.30 and its 200 day moving average price is $2.88. ARCA biopharma has a 52-week low of $1.56 and a 52-week high of $4.49.

ARCA biopharma (NASDAQ:ABIO) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.18) EPS for the quarter.

ARCA biopharma Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Monday, August 26th will be given a $1.59 dividend. The ex-dividend date of this dividend is Thursday, August 29th.

Analyst Ratings Changes

Separately, StockNews.com upgraded ARCA biopharma to a “sell” rating in a research report on Tuesday, August 20th.

Insider Buying and Selling at ARCA biopharma

In related news, major shareholder Henderson Group Plc Janus acquired 166,042 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were bought at an average price of $3.55 per share, with a total value of $589,449.10. Following the completion of the acquisition, the insider now owns 1,648,577 shares in the company, valued at $5,852,448.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 492,997 shares of company stock valued at $1,667,418 in the last 90 days. Company insiders own 30.90% of the company’s stock.

Institutional Trading of ARCA biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABIO. abrdn plc acquired a new stake in ARCA biopharma in the fourth quarter valued at about $55,000. Cubist Systematic Strategies LLC purchased a new stake in shares of ARCA biopharma in the second quarter valued at approximately $106,000. Affinity Asset Advisors LLC purchased a new position in ARCA biopharma in the second quarter worth $278,000. Renaissance Technologies LLC increased its holdings in shares of ARCA biopharma by 11.3% in the 2nd 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. Finally, Cowen AND Company LLC acquired a new stake in shares of ARCA biopharma in the second quarter valued at about $2,681,000. 56.44% of the stock is owned by hedge funds and other 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.