NEW YORK (TheStreet) -- Arena Pharmaceuticals (ARNA) shares are plummeting, down -8.1% to $5.37, on Monday after CEO Jack Lief sold 223,525 shares of the company at an average price $5.85 for a total transaction of $1,307,621.25, according to an SEC filing on Thursday.
TheStreet has in-depth coverage of the sale here.
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TheStreet Ratings team rates ARENA PHARMACEUTICALS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate ARENA PHARMACEUTICALS INC (ARNA) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."