Technical Outlook And Game Plan For ARCA biopharma Inc (NASDAQ: ABIO)

ARCA biopharma Inc (ABIO) concluded trading on Wednesday at a closing price of $3.25, with 80.69 million shares of worth about $262.24 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 61.69% during that period and on April 3, 2024 the price saw a gain of about 90.06%. Currently the company’s common shares owned by public are about 14.50M shares, out of which, 14.31M shares are available for trading.

Stock saw a price change of 90.06% in past 5 days and over the past one month there was a price change of 93.45%. Year-to-date (YTD), ABIO shares are showing a performance of 91.18% which increased to 63.32% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.56 but also hit the highest price of $2.16 during that period. The average intraday trading volume for ARCA biopharma Inc shares is 26.30K. The stock is currently trading 90.31% above its 20-day simple moving average (SMA20), while that difference is up 95.22% for SMA50 and it goes to 73.95% higher than SMA200.

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ARCA biopharma Inc (NASDAQ: ABIO) currently have 14.50M outstanding shares and institutions hold larger chunk of about 51.56% of that.

The stock has a current market capitalization of $47.12M and its 3Y-monthly beta is at 1.21. It has posted earnings per share of -$0.37 in the same period. It has Quick Ratio of 59.01 while making debt-to-equity ratio of 0.01. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ABIO, volatility over the week remained 9.16% while standing at 4.78% over the month.

Analysts are in expectations that ARCA biopharma Inc (ABIO) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is $0 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.76 in the same quarter a year ago.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Ascendiant Capital Markets on February 27, 2018 offering a Buy rating for the stock and assigned a target price of $2 to it. Coverage by Dawson James stated ARCA biopharma Inc (ABIO) stock as a Buy in their note to investors on October 09, 2013, suggesting a price target of $3.75 for the stock.

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