Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) COO Sells $207,553.48 in Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) COO Adrian Haigh sold 22,222 shares of the stock in a transaction on Friday, April 19th. The shares were sold at an average price of $9.34, for a total value of $207,553.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Adrian Haigh also recently made the following trade(s):

• On Monday, April 22nd, Adrian Haigh sold 22,223 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $9.32, for a total value of $207,118.36.
• On Wednesday, April 17th, Adrian Haigh sold 22,222 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $9.91, for a total value of $220,220.02.
• On Monday, April 15th, Adrian Haigh sold 22,222 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $10.30, for a total value of $228,886.60.

Fennec Pharmaceuticals Stock Performance

FENC opened at $9.07 on Thursday. The business’s 50-day simple moving average is $10.05 and its 200-day simple moving average is $9.42. Fennec Pharmaceuticals Inc has a one year low of $6.30 and a one year high of $11.92. The stock has a market capitalization of $245.80 million, a P/E ratio of -14.87 and a beta of 0.38.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its earnings results on Thursday, March 21st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.12). The firm had revenue of $9.74 million during the quarter, compared to analyst estimates of $9.47 million. On average, equities research analysts forecast that Fennec Pharmaceuticals Inc will post 0.11 EPS for the current fiscal year.

Institutional Trading of Fennec Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in FENC. Allspring Global Investments Holdings LLC purchased a new position in shares of Fennec Pharmaceuticals during the third quarter worth about $50,000. AIGH Capital Management LLC grew its holdings in shares of Fennec Pharmaceuticals by 6.9% during the third quarter. AIGH Capital Management LLC now owns 373,526 shares of the company’s stock worth $2,805,000 after buying an additional 24,069 shares during the last quarter. Gendell Jeffrey L grew its holdings in shares of Fennec Pharmaceuticals by 0.9% during the third quarter. Gendell Jeffrey L now owns 285,992 shares of the company’s stock worth $2,148,000 after buying an additional 2,579 shares during the last quarter. Hartford Financial Management Inc. grew its holdings in shares of Fennec Pharmaceuticals by 4.4% during the fourth quarter. Hartford Financial Management Inc. now owns 47,348 shares of the company’s stock worth $531,000 after buying an additional 2,000 shares during the last quarter. Finally, Eudaimonia Advisors LLC grew its holdings in shares of Fennec Pharmaceuticals by 90.8% during the fourth quarter. Eudaimonia Advisors LLC now owns 32,686 shares of the company’s stock worth $367,000 after buying an additional 15,556 shares during the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. HC Wainwright raised their price target on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Craig Hallum raised their price target on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Wedbush restated an “outperform” rating and issued a $16.00 price target on shares of Fennec Pharmaceuticals in a research note on Monday, March 18th.

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.