Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Sells $52,500.00 in Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $5.25, for a total transaction of $52,500.00. Following the sale, the director now owns 61,156 shares in the company, valued at approximately $321,069. This trade represents a 14.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, March 5th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $6.79, for a total value of $67,900.00.
• On Wednesday, February 5th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $6.66, for a total value of $66,600.00.
• 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.

Fennec Pharmaceuticals Price Performance

Fennec Pharmaceuticals stock opened at $5.25 on Monday. Fennec Pharmaceuticals Inc has a 12 month low of $3.96 and a 12 month high of $11.11. The company has a market cap of $144.84 million, a price-to-earnings ratio of -52.49 and a beta of 0.32. The stock’s 50-day moving average is $6.51 and its 200-day moving average is $5.73.

Analysts Set New Price Targets

FENC has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and set a $13.00 price objective on shares of Fennec Pharmaceuticals in a report on Monday, March 10th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Tuesday, March 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FENC. Solas Capital Management LLC raised its stake in shares of Fennec Pharmaceuticals by 17.0% in the 4th quarter. Solas Capital Management LLC now owns 2,250,919 shares of the company’s stock valued at $14,226,000 after acquiring an additional 327,383 shares during the period. Rosalind Advisors Inc. purchased a new position in Fennec Pharmaceuticals in the fourth quarter valued at about $7,962,000. State Street Corp lifted its stake in shares of Fennec Pharmaceuticals by 2.2% during the third quarter. State Street Corp now owns 328,259 shares of the company’s stock worth $1,641,000 after purchasing an additional 7,053 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Fennec Pharmaceuticals by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 303,090 shares of the company’s stock worth $1,916,000 after buying an additional 3,792 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Fennec Pharmaceuticals by 10.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 61,146 shares of the company’s stock valued at $386,000 after buying an additional 5,694 shares in the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

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.