Arena Stock Falls On Unusually High Volume (ARNA)

NEW YORK ( TheStreet) -- Arena Pharmaceuticals (Nasdaq: ARNA) is trading at unusually high volume Friday with 78.3 million shares changing hands. It is currently at four times its average daily volume and trading down $1.98 (-16.9%) at $9.70 as of 3:40 p.m. ET.

Arena has a market cap of $2.07 billion and is part of the health care sector and drugs industry. Shares are up 524.6% year to date as of the close of trading on Thursday.

Arena Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, engages in discovering, developing, and commercializing oral drugs that target G protein-coupled receptors in the therapeutic areas of cardiovascular, central nervous system, inflammatory, and metabolic diseases.

TheStreet Ratings rates Arena as a sell. Among the areas we feel are negative, one of the most important has been an overall disappointing return on equity. You can view the full Arena Ratings Report.

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