Shorts Increase Bets Against Arena Pharmaceuticals (ARNA) Ahead of FDA Decision
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Ahead of tomorrow's FDA decision on obesity drug Lorcaserin, traders should take note that short interest in Arena Pharmaceuticals (Nasdaq: ARNA) rose nearly 14 percent to a record 45,281,978 shares as of 06/15/212, according to data out of Nasdaq after the close Tuesday. Days to cover is listed at 2.2 based on an average daily volume of 20.8 million.
With a float of 181.4 million shares, the percentage of the float that is short is roughly 25 percent.
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With a float of 181.4 million shares, the percentage of the float that is short is roughly 25 percent.
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