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

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $6.08, for a total transaction of $60,800.00. Following the completion of the sale, the director now directly owns 83,863 shares in the company, valued at approximately $509,887.04. This represents a 10.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 transaction of $4,807.84.
• On Monday, November 4th, Rosty Raykov sold 2,431 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $4.31, for a total value of $10,477.61.

Fennec Pharmaceuticals Stock Performance

Shares of FENC stock opened at $6.08 on Friday. Fennec Pharmaceuticals Inc has a 1 year low of $3.96 and a 1 year high of $11.49. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.64 and a current ratio of 7.80. The firm has a market cap of $167.02 million, a price-to-earnings ratio of -60.79 and a beta of 0.34. The stock’s 50-day moving average is $5.54 and its two-hundred day moving average is $5.52.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FENC. Acadian Asset Management LLC purchased a new stake in Fennec Pharmaceuticals in the second quarter valued at approximately $49,000. The Manufacturers Life Insurance Company purchased a new stake in Fennec Pharmaceuticals in the 2nd quarter valued at $69,000. Franklin Resources Inc. raised 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 valued at $74,000 after purchasing an additional 2,330 shares during the last quarter. Barclays PLC boosted its stake in Fennec Pharmaceuticals by 274.3% during 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 during the period. Finally, Rhumbline Advisers grew its position in Fennec Pharmaceuticals by 44.7% during the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock worth $178,000 after purchasing an additional 8,987 shares during the last quarter. Hedge funds and other institutional investors 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.