Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Sells $10,477.61 in Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov sold 2,431 shares of Fennec Pharmaceuticals stock in a transaction on Monday, November 4th. The stock was sold at an average price of $4.31, for a total transaction of $10,477.61. Following the sale, the director now directly owns 66,432 shares of the company’s stock, valued at $286,321.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, October 1st, Rosty Raykov sold 2,431 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $4.94, for a total transaction of $12,009.14.

Fennec Pharmaceuticals Stock Performance

Fennec Pharmaceuticals stock opened at $4.95 on Thursday. The company has a quick ratio of 7.75, a current ratio of 8.02 and a debt-to-equity ratio of 9.86. The company has a market capitalization of $135.73 million, a PE ratio of 123.75 and a beta of 0.27. The firm has a fifty day simple moving average of $4.89 and a two-hundred day simple moving average of $6.18. Fennec Pharmaceuticals Inc has a twelve month low of $4.09 and a twelve month high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.26). The business had revenue of $7.26 million during the quarter, compared to the consensus estimate of $13.67 million. Fennec Pharmaceuticals had a negative return on equity of 53.38% and a net margin of 5.59%. During the same period in the prior year, the firm earned ($0.21) earnings per share. Research analysts expect that Fennec Pharmaceuticals Inc will post 0.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FENC shares. HC Wainwright dropped their price objective on shares of Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective (down from $16.00) on shares of Fennec Pharmaceuticals in a report on Tuesday, August 13th. Finally, Craig Hallum dropped their price objective on shares of Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 14th.

Institutional Trading of Fennec Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company bought a new position in shares of Fennec Pharmaceuticals during the second quarter valued at about $69,000. WINTON GROUP Ltd bought a new position in shares of Fennec Pharmaceuticals during the second quarter valued at about $409,000. Acadian Asset Management LLC bought a new position in shares of Fennec Pharmaceuticals during the second quarter valued at about $49,000. Rhumbline Advisers raised its stake in shares of Fennec Pharmaceuticals by 44.7% during the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after acquiring an additional 8,987 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Fennec Pharmaceuticals by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock valued at $420,000 after acquiring an additional 20,602 shares during the last quarter. 55.51% of the stock is owned by institutional investors.

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.