Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Sells 10,000 Shares of Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $6.66, for a total transaction of $66,600.00. Following the completion of the transaction, the director now owns 76,294 shares of the company’s stock, valued at approximately $508,118.04. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $6.08, for a total transaction 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 Up 2.1 %

Fennec Pharmaceuticals stock opened at $6.79 on Thursday. Fennec Pharmaceuticals Inc has a 12 month low of $3.96 and a 12 month high of $11.49. The stock has a market cap of $186.93 million, a P/E ratio of -67.89 and a beta of 0.34. The company’s fifty day simple moving average is $6.11 and its 200-day simple moving average is $5.51.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its earnings results on Thursday, November 7th. The company reported ($0.21) 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 firm had revenue of $6.97 million during the quarter, compared to analysts’ expectations of $9.13 million. During the same quarter last year, the firm earned ($0.07) EPS. On average, equities research analysts expect that Fennec Pharmaceuticals Inc will post -0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FENC has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a research report on Tuesday, December 17th. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Fennec Pharmaceuticals in a research note on Friday, December 20th.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new position in Fennec Pharmaceuticals during the second quarter valued at approximately $69,000. Franklin Resources Inc. increased its stake in shares of Fennec Pharmaceuticals by 18.7% during 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. Barclays PLC raised 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 valued at $157,000 after purchasing an additional 22,951 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Fennec Pharmaceuticals by 12.9% in the 4th quarter. Rhumbline Advisers now owns 34,299 shares of the company’s stock valued at $217,000 after purchasing an additional 3,911 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new stake in shares of Fennec Pharmaceuticals in the 3rd quarter valued at $264,000. 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.