ARCA biopharma Inc [NASDAQ: ABIO] stock went on an upward path that rose over 90.06% on Wednesday, amounting to a one-week price increase of more than 90.06%. The company report on April 3, 2024 at 7:30 AM that ARCA biopharma and Oruka Therapeutics Announce Merger Agreement.
Merger to create a company focused on advancing Oruka’s portfolio of novel biologics that aim to redefine the standard of care for patients with chronic skin diseases.
Oruka, the third company founded based on assets generated by Paragon Therapeutics, expects to advance ORKA-001 and ORKA-002, potentially best-in-class antibodies targeting IL-23p19 and IL-17A/F, respectively, into clinical trials in 2025.
Over the last 12 months, ABIO stock rose by 63.32%. The one-year ARCA biopharma Inc stock forecast points to a potential upside of 80.88. The average equity rating for ABIO stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $47.12 million, with 14.50 million shares outstanding and 14.31 million shares in the current float. Compared to the average trading volume of 26.30K shares, ABIO stock reached a trading volume of 80688556 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on ARCA biopharma Inc [ABIO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ABIO shares is $17.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ABIO stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Ascendiant Capital Markets have made an estimate for ARCA biopharma Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 27, 2018. While these analysts kept the previous recommendation, Dawson James raised their target price to Buy. The new note on the price target was released on October 09, 2013, representing the official price target for ARCA biopharma Inc stock.
The Average True Range (ATR) for ARCA biopharma Inc is set at 0.21 The Price to Book ratio for the last quarter was 1.27, with the Price to Cash per share for the same quarter was set at 2.58.
ABIO Stock Performance Analysis:
ARCA biopharma Inc [ABIO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 90.06. With this latest performance, ABIO shares gained by 93.45% in over the last four-week period, additionally plugging by 61.69% over the last 6 months – not to mention a rise of 63.32% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ABIO stock in for the last two-week period is set at 92.56, with the RSI for the last a single of trading hit 94.58, and the three-weeks RSI is set at 90.13 for ARCA biopharma Inc [ABIO]. The present Moving Average for the last 50 days of trading for this stock 1.7000, while it was recorded at 2.0400 for the last single week of trading, and 1.8700 for the last 200 days.
Insight into ARCA biopharma Inc Fundamentals:
ARCA biopharma Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 59.01 and a Current Ratio set at 59.01.
ABIO Stock EPS
With the latest financial reports released by the company, ARCA biopharma Inc posted -0.76/share EPS, while the average EPS was predicted by analysts to be reported at -1.3/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 41.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ABIO.
ARCA biopharma Inc [ABIO] Institutonal Ownership Details
The top three institutional holders of ABIO stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ABIO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ABIO stock with ownership which is approximately 5.8386%.
