Arena Pharmaceuticals (Nasdaq:ARNA) is trading at unusually high volume Wednesday with 10.9 million shares changing hands. It is currently at two times its average daily volume and trading down 20 cents (-2.3%).
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Arena Pharmaceuticals (Nasdaq: ARNA) is trading at unusually high volume Wednesday with 10.9 million shares changing hands. It is currently at two times its average daily volume and trading down 20 cents (-2.3%) at $8.74 as of 3:51 p.m. ET.
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Arena has a market cap of $1.81 billion and is part of the health care sector and drugs industry. Shares are down 8% year to date as of the close of trading on Tuesday. Arena Pharmaceuticals, Inc., a biopharmaceutical company, engages in discovering, developing, and commercializing novel 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. The area that we feel has been the company's primary weakness has been its disappointing return on equity. You can view the full Arena Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100% See his top picks for 14-days FREE.