Shorts On Watch: Could Arena Pharmaceuticals Incorporated (NASDAQ:ARNA) Change Direction After More Shorts?

November 24, 2016 - By Louis Casey   ·   0 Comments

Shorts On Watch: Could Arena Pharmaceuticals Incorporated (NASDAQ:ARNA) Change Direction After More Shorts?

The stock of Arena Pharmaceuticals Incorporated (NASDAQ:ARNA) registered an increase of 1.29% in short interest. ARNA’s total short interest was 12.71 million shares in November as published by FINRA. Its up 1.29% from 12.55M shares, reported previously. With 1.30M shares average volume, it will take short sellers 10 days to cover their ARNA’s short positions. The short interest to Arena Pharmaceuticals Incorporated’s float is 5.9%. The stock increased 5.30% or $0.08 on November 23, hitting $1.59. About 1.66 million shares traded hands or 9.93% up from the average. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has declined 14.05% since April 22, 2016 and is downtrending. It has underperformed by 19.46% the S&P500.

Arena Pharmaceuticals, Inc. is a biopharmaceutical firm focused on discovering, developing and commercializing small molecule drugs that target G protein-coupled receptors . The company has a market cap of $376.89 million. The Company’s drug, Lorcaserin, is approved for marketing in the United States and South Korea for the indication of weight management, and is being commercialized under the brand name, BELVIQ. It currently has negative earnings. The Company’s drug candidates in clinical development include APD334 for autoimmune diseases, ralinepag for vascular diseases and APD371 for pain.

Insitutional Activity: The institutional sentiment decreased to 1.18 in Q2 2016. Its down 0.06, from 1.24 in 2016Q1. The ratio is negative, as 10 funds sold all Arena Pharmaceuticals, Inc. shares owned while 27 reduced positions. 11 funds bought stakes while 35 increased positions. They now own 117.02 million shares or 2.25% more from 114.45 million shares in 2016Q1.
California State Teachers Retirement Sys holds 0% of its portfolio in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) for 514,162 shares. Amalgamated Bank & Trust holds 0% of its portfolio in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) for 25,902 shares. Moreover, Automobile Association has 0% invested in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) for 357,280 shares. Pnc Fincl Serv Grp Inc Inc accumulated 3,299 shares or 0% of the stock. Nationwide Fund has 161,031 shares for 0% of their US portfolio. The Delaware-based Blackrock Limited Liability has invested 0% in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA). Teachers has 0% invested in the company for 366,145 shares. Wolverine Asset Mngmt Ltd Llc holds 0% or 1,000 shares in its portfolio. The United Kingdom-based Legal & General Public Limited Company has invested 0% in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA). The New York-based New York State Common Retirement Fund has invested 0% in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA). Millennium Mngmt Ltd Liability Co has 0% invested in the company for 601,256 shares. Horizon Kinetics Limited Liability has 0% invested in the company for 45,000 shares. Goldman Sachs Group, a New York-based fund reported 387,025 shares. Schwab Charles Management last reported 0% of its portfolio in the stock. Janus Capital Mngmt Limited Liability Co has invested 0% of its portfolio in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA).

Insider Transactions: Since June 13, 2016, the stock had 0 insider purchases, and 1 sale for $37,299 net activity. Shares for $37,299 were sold by White Christine Anna.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Ratings Coverage

Out of 3 analysts covering Arena Pharmaceuticals (NASDAQ:ARNA), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Arena Pharmaceuticals has been the topic of 3 analyst reports since October 28, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Thursday, September 15 by FBR Capital. The firm has “Buy” rating by WallachBeth Capital given on Wednesday, October 28. RBC Capital Markets maintained the stock with “Sector Perform” rating in Wednesday, November 11 report.

ARNA Company Profile

Arena Pharmaceuticals, Inc., incorporated on April 14, 1997, is a biopharmaceutical firm focused on discovering, developing and commercializing small molecule drugs that target G protein-coupled receptors (GPCRs). The Company’s drug, Lorcaserin, is approved for marketing in the United States and South Korea for the indication of weight management. The Company’s drug candidates in clinical development include APD334 for autoimmune diseases, ralinepag for vascular diseases and APD371 for pain. The Company’s programs under collaboration include nelotanserin for dementia-associated psychosis, temanogrel for thrombotic diseases, and an undisclosed orphan GPCR for central nervous system (CNS) indication(s).

More news for Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) were recently published by: Fool.com, which released: “3 Things You Really Need to Know About Arena Pharmaceuticals, Inc. Q3 Results” on November 08, 2016. Prnewswire.com‘s article titled: “Arena Pharmaceuticals Announces Poster at the American Heart Association (AHA …” and published on November 09, 2016 is yet another important article.

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By Louis Casey


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