Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Sells 2,431 Shares of Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov sold 2,431 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $4.31, for a total transaction of $10,477.61. Following the completion of the sale, the director now directly owns 66,432 shares in the company, valued at approximately $286,321.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, October 1st, Rosty Raykov sold 2,431 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $4.94, for a total value of $12,009.14.

Fennec Pharmaceuticals Trading Up 7.1 %

Shares of NASDAQ:FENC opened at $4.65 on Tuesday. Fennec Pharmaceuticals Inc has a 12-month low of $4.09 and a 12-month high of $11.92. The business has a 50 day moving average of $4.92 and a 200-day moving average of $6.23. The company has a quick ratio of 7.75, a current ratio of 8.02 and a debt-to-equity ratio of 9.86. The stock has a market cap of $127.50 million, a PE ratio of 116.28 and a beta of 0.27.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). Fennec Pharmaceuticals had a negative return on equity of 53.38% and a net margin of 5.59%. The firm had revenue of $7.26 million for the quarter, compared to analyst estimates of $13.67 million. During the same period in the prior year, the business posted ($0.21) EPS. As a group, equities research analysts forecast that Fennec Pharmaceuticals Inc will post 0.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective (down from $16.00) on shares of Fennec Pharmaceuticals in a research report on Tuesday, August 13th. HC Wainwright dropped their price target on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Craig Hallum reduced 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.

Institutional Trading of Fennec Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in shares of Fennec Pharmaceuticals by 67.7% during the first quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company’s stock worth $364,000 after purchasing an additional 13,223 shares during the period. Essex Investment Management Co. LLC acquired a new stake in Fennec Pharmaceuticals during the first quarter worth approximately $1,604,000. Russell Investments Group Ltd. increased its stake in Fennec Pharmaceuticals by 71,275.0% during the 1st quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock worth $381,000 after acquiring an additional 34,212 shares during the period. Gendell Jeffrey L raised its holdings in Fennec Pharmaceuticals by 7.1% in the 1st quarter. Gendell Jeffrey L now owns 302,478 shares of the company’s stock valued at $3,364,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Fennec Pharmaceuticals by 42.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock valued at $420,000 after acquiring an additional 20,602 shares during the period. 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.