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 on Wednesday, February 5th. The shares were sold at an average price of $6.66, for a total value of $66,600.00. Following the completion of the transaction, the director now owns 76,294 shares of the company’s stock, valued at $508,118.04. This trade represents a 11.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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 transaction of $4,807.84.

Fennec Pharmaceuticals Stock Performance

FENC stock opened at $6.66 on Friday. The stock has a market cap of $183.33 million, a P/E ratio of -66.59 and a beta of 0.34. The firm has a 50 day simple moving average of $6.11 and a 200 day simple moving average of $5.51. Fennec Pharmaceuticals Inc has a 52 week low of $3.96 and a 52 week high of $11.49.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its 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). Fennec Pharmaceuticals had a negative net margin of 2.30% and a negative return on equity of 53.38%. The company had revenue of $6.97 million for the quarter, compared to analyst estimates of $9.13 million. During the same period last year, the business earned ($0.07) EPS. Sell-side analysts predict that Fennec Pharmaceuticals Inc will post -0.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FENC. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a research report on Tuesday, December 17th. Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a report on Friday, December 20th. Finally, Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th.

Institutional Trading of Fennec Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. increased 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 during the last quarter. Rhumbline Advisers increased its holdings in 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 buying an additional 3,911 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Fennec Pharmaceuticals by 10.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 61,146 shares of the company’s stock valued at $386,000 after acquiring an additional 5,694 shares in the last quarter. State Street Corp lifted its stake in Fennec Pharmaceuticals by 2.2% in the third quarter. State Street Corp now owns 328,259 shares of the company’s stock valued at $1,641,000 after acquiring an additional 7,053 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Fennec Pharmaceuticals in the second quarter worth approximately $69,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.