ARCA biopharma Inc. (ABIO) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the health care sector halfway through the trading day. At the lunch break, shares of ABIO have fallen 3.14% to $2.86 after closing the day prior at $2.95. So far, the stock has traded as high as $2.95 and as low as $2.79. Today’s decline has come with about 26,933 shares changing hands, compared to an average 30-day volume of 15,687 for ARCA biopharma Inc.. The price is currently below the 30-day volume weighted average price of $2.85 for ABIO.
The share depreciation gives the company a market capitalization of $26.75 million based upon 9.07 million shares outstanding. It also means that ABIO has a price-to-book ratio of 0.87:1.
In the past 52 weeks, shares of ABIO have traded as low as $2.73 and as high as $6.97. Technical traders will take note that at $2.86, shares of ABIO are trading below their 200-day MA at $3.55 and below their 50-day MA at $2.98. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is ABIO?
ARCA biopharma Inc is a biopharmaceutical company. The Company is engaged in developing genetically-targeted therapies for cardiovascular diseases. Its product candidate is Gencaro. The company’s 18 employees are led by CEO Michael R. Bristow from the corporate headquarters at 11080 CirclePoint Road in Westminster, CO.
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