Arena Pharmaceuticals (NASDAQ:ARNA) has tumbled 7.54% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 17.2% in the last four weeks. The stocks have underperformed the S&P 500 by 6.43% during the past week but Arena Pharmaceuticals (NASDAQ:ARNA) it has outperformed the index in 4 weeks by 16.13%.
Arena Pharmaceuticals (NASDAQ:ARNA): The stock opened at $1.90 on Friday but the bulls could not build on the opening and the stock topped out at $1.95 for the day. The stock traded down to $1.83 during the day, due to lack of any buying support eventually closed down at $1.84 with a loss of -2.65% for the day. The stock had closed at $1.89 on the previous day. The total traded volume was 2,484,819 shares.
The company shares have dropped -59.02% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $5.12 and the one year low was seen on Jan 11, 2016. The 50-Day Moving Average price is $1.73 and the 200 Day Moving Average price is recorded at $1.73.
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Arena Pharmaceuticals Inc, White Christine Anna had sold 18,728 shares worth of $37,269 in a transaction dated June 13, 2016. In this transaction, 18,728 shares were sold at $1.99 per share.
Currently the company Insiders own 2.78% of Arena Pharmaceuticals shares according to the proxy statements. Institutional Investors own 51.59% of Arena Pharmaceuticals shares.
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.