28-Mar-2024
No headlines found.
ARCA biopharma Announces 2023 Financial Results
Globe Newswire (Thu, 1-Feb 4:35 PM ET)
ARCA biopharma Inc is a clinical-stage biopharmaceutical company applying a precision medicine approach to the development and commercialization of targeted therapies for cardiovascular diseases. The company's product candidates are rNAPc2 as a potential treatment for COVID-19, the disease syndrome caused by the SARS-CoV-2 virus, and potentially other viral diseases and Gencaro for the treatment of atrial fibrillation, or AF, in patients with chronic heart failure, or HF. rNAPc2 targets COVID-19 patients with biomarker evidence of coagulopathy, while Gencaro is being developed for patients who have a genotype that identifies a drug target associated with heightened efficacy.
Arca Biopharma trades on the NASDAQ stock market under the symbol ABIO.
As of March 28, 2024, ABIO stock price climbed to $1.76 with 8,895 million shares trading.
ABIO has a beta of 0.25, meaning it tends to be less sensitive to market movements. ABIO has a correlation of 0.02 to the broad based SPY ETF.
ABIO has a market cap of $25.52 million. This is considered a Sub-Micro Cap stock.
In the last 3 years, ABIO stock traded as high as $3.90 and as low as $1.56.
The top ETF exchange traded funds that ABIO belongs to (by Net Assets): VTI, VXF, DFAT, DFSU.
ABIO has underperformed the market in the last year with a return of -14.9%, while the SPY ETF gained +33.6%. In the last 3 month period, ABIO fell short of the market, returning +3.8%, while SPY returned +10.1%. However, in the most recent 2 weeks ABIO has outperformed the stock market by returning +4.1%, while SPY returned +1.7%.
ABIO support price is $1.70 and resistance is $1.80 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ABIO stock will trade within this expected range on the day.