This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Wall Street Investors Aren't Eager to Own Arena Pharma Quite Yet

Updated with correct short interest information.

SAN DIEGO ( TheStreet) -- The most recent breakdown of Arena Pharmaceuticals' (ARNA - Get Report) 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 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 - Get Report) 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 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.

Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ARNA $1.71 0.00%
VVUS $1.58 0.00%
AAPL $93.64 0.00%
FB $118.57 0.00%
GOOG $698.21 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs