Arena Pharmaceuticals (ARNA) : 14 days before expiry, shorts in Arena Pharmaceuticals (ARNA) have reduced from 12,832,697 on Jul 29, 2016, to 12,690,927 on August 15, 2016. On an average, 883,255 shares are traded on the exchange. The outstanding bearish positions are equal to 5.3% of the float. Short sellers have covered -141,770 shares, a reduction of -1.1%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Arena Pharmaceuticals (NASDAQ:ARNA): The stock opened at $1.68 on Wednesday but the bulls could not build on the opening and the stock topped out at $1.70 for the day. The stock traded down to $1.59 during the day, due to lack of any buying support eventually closed down at $1.59 with a loss of -5.36% for the day. The stock had closed at $1.68 on the previous day. The total traded volume was 1,539,080 shares.
In a related news,The director of Arena Pharmaceuticals Inc, White Christine Anna sold 18,728 shares at $1.99 on June 13, 2016. The Insider selling transaction had a total value worth of $37,269. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Arena Pharmaceuticals, Inc. is a biopharmaceutical company focused on discovering, developing and commercializing drugs that target G protein-coupled receptors (GPCRs). The Companys drug, BELVIQ (lorcaserin HCl), was approved by the United States Food and Drug Administration for marketing in the United States. In addition to BELVIQ, the Company has other drug candidates and compounds at various stages of research and development. The Company is exploring lorcaserins once-a-day, extended release formulation, as an aid to smoking cessation, in combination with phentermine and other agents for weight management, and for other possible indications. The Companys other drug candidates include ralinepag for vascular diseases, APD334 for autoimmune diseases, APD371 for pain and fibrotic diseases, and temanogrel for thrombotic diseases.