Updated with correct short interest information.
SAN DIEGO ( TheStreet) -- The most recent breakdown of Arena Pharmaceuticals' (ARNA) shareholder base shows ownership still largely in the hands of retail investors. Institutional investors sat on their hands during the fourth quarter.
One hundred forty-two institutional investors filed 13Fs listing Arena among their stock holdings at the end of the fourth quarter, according to Whalewisdom.com. The aggregate number of Arena shares in these 13Fs totaled 99.4 million at Dec. 31, 2012, an increase of 400,000 shares over the Sept. 30, 2012 filings.
Arena's overall institutional investor ownership remained unchanged at 47% at the end of the fourth quarter, Likewise, public, or retail, ownership of the stock was fixed at 52%, according to CapitalIQ.Arena's stock price rose 12% from $8 to $9 during the fourth quarter but has since fallen back. Arena shares closed Tuesday at $8.35. Arena and marketing partner Eisai are expected to launch the weight-loss pill Belviq sometime in March, following the completion of the DEA scheduling process. Vivus (VVUS) continues to struggle with the marketing of its weight-loss pill Qsymia, so investors will be watching the Belviq launch closely to see if Arena and Eisai can do any better. Thirty institutional investors initiated new positions in Arena during the fourth quarter 2012, with another 62 funds adding to existing positions, according to Whalewisdom.com. On the other side of the ledger, 21 funds closed out Arena positions and 60 funds reduced their exposure to the stock. Short interest in Arena remains high at 55.1 million shares at the end of January, according to Nasdaq. Next week, Vivus is expected to release financial results for the fourth quarter. On average, analysts expect Qsymia sales of $3.34 million. -- Reported by Adam Feuerstein in Boston. Follow @AdamFeuerstein
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV