Rosalind Advisors Inc. Invests $7.96 Million in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

Rosalind Advisors Inc. purchased a new stake in Fennec Pharmaceuticals Inc (NASDAQ:FENC) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,259,876 shares of the company’s stock, valued at approximately $7,962,000. Fennec Pharmaceuticals accounts for approximately 4.0% of Rosalind Advisors Inc.’s portfolio, making the stock its 10th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FENC. State Street Corp lifted its stake in Fennec Pharmaceuticals by 2.2% in the third quarter. State Street Corp now owns 328,259 shares of the company’s stock valued at $1,641,000 after buying an additional 7,053 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fennec Pharmaceuticals by 10.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 61,146 shares of the company’s stock valued at $386,000 after buying an additional 5,694 shares during the last quarter. Advantage Alpha Capital Partners LP bought a new position in Fennec Pharmaceuticals during the third quarter worth about $264,000. Clayton Partners LLC bought a new stake in Fennec Pharmaceuticals in the fourth quarter valued at approximately $256,000. Finally, Rhumbline Advisers lifted its holdings in Fennec Pharmaceuticals by 12.9% during the 4th quarter. Rhumbline Advisers now owns 34,299 shares of the company’s stock valued at $217,000 after purchasing an additional 3,911 shares during the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FENC. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Tuesday, March 11th. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a report on Monday, March 10th.

Insider Buying and Selling

In other news, Director Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $6.66, for a total transaction of $66,600.00. Following the sale, the director now directly owns 76,294 shares of the company’s stock, valued at approximately $508,118.04. This trade represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 31,186 shares of company stock worth $203,389 in the last 90 days. Insiders own 10.98% of the company’s stock.

Fennec Pharmaceuticals Stock Performance

NASDAQ FENC opened at $6.67 on Friday. The firm’s fifty day moving average price is $6.45 and its two-hundred day moving average price is $5.67. The stock has a market cap of $184.01 million, a PE ratio of -66.69 and a beta of 0.36. Fennec Pharmaceuticals Inc has a fifty-two week low of $3.96 and a fifty-two week high of $11.47.

About Fennec Pharmaceuticals

Fennec Pharmaceuticals Inc, a biopharmaceutical company, develops product candidates for use in the treatment of cancer in the United States. Its lead product candidate is the Sodium Thiosulfate, which has completed the Phase III clinical trial for the prevention of cisplatin induced hearing loss or ototoxicity in children.