Arena (ARNA) Short Interest Still High into Q4 Results

March 1, 2013 3:57 PM EST
Arena Pharmaceuticals (Nasdaq: ARNA) is trading lower late Friday heading into its quarterly report, which is expected to be release Monday morning.

The Street is currently looking for a loss of 3 cents per share on revs of $21.94 million. Numbers compare with a loss of 16 cents per share and rev of $2.08 million in the same period last year.

Short interest on the stock is still relatively high. Total shares being held short rose about 0.3 percent through the middle of February to 55.32 million, or 25.6 percent of float.

Given that Arena is still working to bring Belviq to market in the U.S., that will be a key point for investors to keep an eye on.

Peer VIVUS, Inc. (Nasdaq: VVUS) released fourth-quarter results last Monday, with a loss of 56 cents coming in wider than views.

Arena is down 0.6 percent late.

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