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ARCA biopharma Announces Second Quarter 2024 Financial Results and Provides Corporate Update
Globe Newswire (Thu, 1-Aug 4:15 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 September 6, 2024, ABIO stock price was flat at $2.40 with million shares trading.
ABIO has a beta of 6.70, meaning it tends to be more sensitive to market movements. ABIO has a correlation of 0.11 to the broad based SPY ETF.
ABIO has a market cap of $2.90 million. This is considered a Sub-Micro Cap stock.
In the last 3 years, ABIO stock traded as high as $53.88 and as low as $2.40.
The top ETF exchange traded funds that ABIO belongs to (by Net Assets): VTI, VXF.
ABIO has outperformed the market in the last year with a price return of +69.6% while the SPY ETF gained +22.6%. ABIO has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +3.5% and +34.5%, respectively, while the SPY returned +1.4% and -3.9%, respectively.
ABIO support price is $2.26 and resistance is $2.54 (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.