Clayton Partners LLC Makes New Investment in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

Clayton Partners LLC acquired a new stake in Fennec Pharmaceuticals Inc (NASDAQ:FENC) in the fourth quarter, HoldingsChannel reports. The firm acquired 40,540 shares of the company’s stock, valued at approximately $256,000.

A number of other hedge funds have also recently bought and sold shares of FENC. Franklin Resources Inc. boosted its holdings in shares of Fennec Pharmaceuticals by 18.7% during the third quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock worth $74,000 after purchasing an additional 2,330 shares during the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new stake in Fennec Pharmaceuticals in the 4th quarter valued at about $97,000. Barclays PLC lifted its holdings in shares of 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 acquiring an additional 22,951 shares during the period. Rhumbline Advisers boosted its position in shares of Fennec Pharmaceuticals by 12.9% in the fourth quarter. Rhumbline Advisers now owns 34,299 shares of the company’s stock worth $217,000 after acquiring an additional 3,911 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP purchased a new stake in Fennec Pharmaceuticals in the third quarter valued at approximately $264,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Monday, March 10th. HC Wainwright reissued a “buy” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a research report on Tuesday, March 11th. Finally, Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th.

Fennec Pharmaceuticals Price Performance

Shares of FENC stock opened at $6.51 on Friday. The company’s fifty day moving average price is $6.40 and its two-hundred day moving average price is $5.63. The firm has a market capitalization of $179.43 million, a P/E ratio of -65.09 and a beta of 0.36. Fennec Pharmaceuticals Inc has a 12 month low of $3.96 and a 12 month high of $11.49.

Insider Buying and Selling

In other news, Director Rosty Raykov sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $6.79, for a total transaction of $67,900.00. Following the completion of the transaction, the director now directly owns 68,725 shares in the company, valued at approximately $466,642.75. This represents a 12.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 31,186 shares of company stock worth $203,389. 10.98% of the stock is currently owned by corporate insiders.

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.