Amarin Co. plc (NASDAQ:AMRN) Short Interest Update

Amarin Co. plc (NASDAQ:AMRN) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 10,840,000 shares, a decrease of 35.4% from the February 28th total of 16,790,000 shares. Approximately 2.7% of the company’s stock are short sold. Based on an average daily trading volume, of 1,580,000 shares, the days-to-cover ratio is presently 6.9 days.

Institutional Investors Weigh In On Amarin

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Arkfeld Wealth Strategies L.L.C. boosted its stake in shares of Amarin by 52.6% in the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 20,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Amarin during the 4th quarter valued at approximately $36,000. Generation Capital Management LLC purchased a new position in shares of Amarin in the fourth quarter worth $50,000. Stonepine Capital Management LLC purchased a new stake in Amarin in the 4th quarter worth $55,000. Finally, New York State Common Retirement Fund bought a new position in shares of Amarin during the 4th quarter valued at about $68,000. 22.25% of the stock is owned by institutional investors.

Amarin Price Performance

NASDAQ AMRN opened at $0.44 on Monday. The stock has a market capitalization of $181.11 million, a price-to-earnings ratio of -4.89 and a beta of 1.82. Amarin has a 1-year low of $0.35 and a 1-year high of $1.11. The business’s fifty day moving average price is $0.53 and its 200-day moving average price is $0.54.

Amarin’s stock is set to reverse split on the morning of Friday, April 11th. The 1-20 reverse split was announced on Wednesday, March 12th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, April 10th.

Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $62.31 million for the quarter, compared to the consensus estimate of $32.37 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. Equities research analysts anticipate that Amarin will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Amarin in a research report on Monday. They set a “sell” rating for the company.

About Amarin

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.