Technology has gifted us many things that have made our lives easier and better. Technology has supported the development of various sectors that enriched our quality of life and standard of living. One of its important contributions has been to the field of medicine. Advanced technology has helped us look beyond generic treatments and has expanded the horizon of treatments now available. Biotechnology has had a tremendous impact on our lives, because thanks to it, medical professionals are now able to develop medicines that help treat numerous ailments.
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Investing in important sectors like healthcare is a valuable contribution to the field of medicine. The healthcare sector is vast and comprises companies that are engaged in producing and developing the smallest of the small parts of the healthcare system, as well as the biggest of the big chains of medical institutions. Your investment not only helps in the growth of such companies but it also ultimately leads to building better healthcare systems for the country.
One such company engaged in the use of biotechnology is ARCA biopharma Inc. This company is listed on the Nasdaq index with the ticker ‘ABIO.’ The company was founded by Michael R. Bristow and Christopher David Ozeroff in 1992 and its headquarters are in Westminster, CO. ARCA Biopharma Inc. (NASDAQ: ABIO at https://www.webull.com/quote/nasdaq-abio) is a biopharmaceutical company which develops genetically targeted therapies for heart failure and cardiovascular diseases. The company is into cardiovascular pathophysiology, molecular genetics, and clinical development. The company believes that tailoring medical treatment to genetics can lead to effective treatment of serious ailments like heart failure or Atrial Fibrillation (AF). ARCA’s product candidate ‘Gencaro’ is a pharmacologic beta-blocker and vasodilator which is developed to treat chronic heart failure and other indications of AF.
ARCA Biopharma Inc. has a market cap of $25.77 million. Companies that are a part of the ‘diagnostic substances’ industry considered as alternatives and competitors of ARCA Biopharma are IDEXX Laboratories, Quidel, Immunomedics, Neogen, Intellia Therapeutics, and Meridian Bioscience. NASDAQ: ABIO was trading at $3.36 on the day Covid-19 was declared a pandemic. Currently, the stock is trading at $7.50. The share price has increased by 125%. It can be a good buy if the share prices keep rising consistently.
The beta of this stock is more than 1, which indicates that the price is sensitive to market changes, The share price will rise more than expected if the market is favorable, and will fall more than anticipated if the market is not in favor of the stock. With a product in the making that may soon enter the market, the company has the potential to grow further. You can do stock trading at your stock account. Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.
