Amarin (NASDAQ:AMRN) Cut to Sell at StockNews.com

Amarin (NASDAQ:AMRN) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Amarin Price Performance

Shares of AMRN traded up $0.00 during mid-day trading on Tuesday, reaching $0.58. 894,139 shares of the company’s stock traded hands, compared to its average volume of 1,094,662. Amarin has a 12 month low of $0.43 and a 12 month high of $1.36. The stock has a market cap of $237.45 million, a P/E ratio of -6.42 and a beta of 1.83. The stock’s 50-day moving average is $0.54 and its two-hundred day moving average is $0.56.

Institutional Trading of Amarin

Several institutional investors and hedge funds have recently made changes to their positions in AMRN. Arkfeld Wealth Strategies L.L.C. grew its holdings 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 purchasing an additional 20,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Amarin in the 4th quarter valued at about $36,000. China Universal Asset Management Co. Ltd. increased its position in shares of Amarin by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 29,992 shares during the period. Kornitzer Capital Management Inc. KS raised its stake in shares of Amarin by 80.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 42,700 shares in the last quarter. Finally, Generation Capital Management LLC purchased a new stake in shares of Amarin in the fourth quarter valued at approximately $50,000. 22.25% of the stock is currently owned by institutional investors.

Amarin Company Profile

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.