Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov Sells 10,000 Shares

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $6.66, for a total value of $66,600.00. Following the transaction, the director now owns 76,294 shares in the company, valued at $508,118.04. The trade was a 11.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Rosty Raykov also recently made the following trade(s):

• On Monday, January 6th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $6.08, for a total value of $60,800.00.
• On Thursday, December 5th, Rosty Raykov sold 796 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $6.04, for a total value of $4,807.84.

Fennec Pharmaceuticals Price Performance

Shares of Fennec Pharmaceuticals stock traded up $0.14 during trading on Wednesday, hitting $6.79. The company’s stock had a trading volume of 45,493 shares, compared to its average volume of 59,939. The stock has a market cap of $186.93 million, a price-to-earnings ratio of -67.89 and a beta of 0.34. Fennec Pharmaceuticals Inc has a 52 week low of $3.96 and a 52 week high of $11.49. The stock has a 50-day moving average price of $6.11 and a two-hundred day moving average price of $5.51.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). The firm had revenue of $6.97 million during the quarter, compared to analyst estimates of $9.13 million. Fennec Pharmaceuticals had a negative return on equity of 53.38% and a negative net margin of 2.30%. During the same quarter last year, the firm posted ($0.07) EPS. On average, equities analysts predict that Fennec Pharmaceuticals Inc will post -0.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FENC shares. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a research report on Friday, December 20th. Stephens upgraded shares of Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th. Finally, HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of Fennec Pharmaceuticals in a research report on Tuesday, December 17th.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company bought a new stake in Fennec Pharmaceuticals during the 2nd quarter valued at $69,000. Franklin Resources Inc. grew its position in Fennec Pharmaceuticals by 18.7% in the 3rd quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock worth $74,000 after purchasing an additional 2,330 shares in the last quarter. Barclays PLC grew its position in Fennec Pharmaceuticals by 274.3% in the 3rd quarter. Barclays PLC now owns 31,319 shares of the company’s stock worth $157,000 after purchasing an additional 22,951 shares in the last quarter. Rhumbline Advisers increased its position in shares of Fennec Pharmaceuticals by 12.9% during the fourth quarter. Rhumbline Advisers now owns 34,299 shares of the company’s stock valued at $217,000 after acquiring an additional 3,911 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP bought a new stake in shares of Fennec Pharmaceuticals during the 3rd quarter worth $264,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Fennec Pharmaceuticals Company Profile

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.