Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Sells 6,409 Shares of Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Chris A. Rallis sold 6,409 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.14, for a total transaction of $39,351.26. Following the sale, the director now directly owns 52,214 shares of the company’s stock, valued at approximately $320,593.96. This represents a 10.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Fennec Pharmaceuticals Trading Down 2.6 %

Fennec Pharmaceuticals stock opened at $6.07 on Thursday. The firm has a 50 day simple moving average of $4.80 and a 200-day simple moving average of $5.65. The company has a debt-to-equity ratio of 9.86, a current ratio of 7.80 and a quick ratio of 7.64. The stock has a market capitalization of $166.49 million, a PE ratio of -60.70 and a beta of 0.35. Fennec Pharmaceuticals Inc has a 12-month low of $3.96 and a 12-month high of $11.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its holdings in shares of Fennec Pharmaceuticals by 18.7% in the third quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock valued at $74,000 after acquiring an additional 2,330 shares in the last quarter. Barclays PLC lifted its stake in Fennec Pharmaceuticals by 274.3% during the third quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after purchasing an additional 22,951 shares during the last quarter. State Street Corp lifted its stake in Fennec Pharmaceuticals by 2.2% during the third quarter. State Street Corp now owns 328,259 shares of the company’s stock valued at $1,641,000 after purchasing an additional 7,053 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in Fennec Pharmaceuticals during the third quarter valued at approximately $264,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Fennec Pharmaceuticals during the second quarter valued at approximately $69,000. 55.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FENC shares. Craig Hallum lowered their price objective on shares of Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Stephens upgraded shares of Fennec Pharmaceuticals to a “strong-buy” rating in a research report on Monday, November 18th. HC Wainwright decreased their target price on shares of Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Wedbush restated an “outperform” rating and issued a $13.00 target price (down previously from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th.

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.