Arca BioPharma Inc. (ABIO) Shows Some Correction After Solid Gains In A Single Session

ARCA BioPharma (NASDAQ: ABIO) plunged 25% by early afternoon trading on Monday following a bout of profit booking in shares. ARCA BioPharma (ABIO) witnessed heavy profit booking after 210% gain on last Friday, when the company’s patent for a medicine to check heart failure was vindicated by FDA.

With this, ARCA Biopharma, (ABIO), which had started moving up from $3.35 on last Friday and closed at $8.22, has reverted around 30% from top to around $6.30 by early afternoon on Monday. The correction after a windfall gain in one day is a signal of strength in the ARCA Biopharma, (ABIO) stock.