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NEW YORK ( TheStreet) -- Arena Pharmaceuticals (Nasdaq: ARNA) hit a new 52-week low Friday as it is currently trading at $6.91, below its previous 52-week low of $6.95 with 2.1 million shares traded as of 9:56 a.m. ET. Average volume has been 5.7 million shares over the past 30 days. Arena has a market cap of $1.61 billion and is part of the health care sector and drugs industry. Shares are down 17.8% year to date as of the close of trading on Wednesday. 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.