Adherex Technologies (NASDAQ:FENC) Director Rosty Raykov Sells 10,000 Shares

Adherex Technologies Inc. (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $8.10, for a total value of $81,000.00. Following the sale, the director owned 82,318 shares in the company, valued at $666,775.80. This trade represents a 10.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, October 6th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $9.78, for a total value of $97,800.00.

Adherex Technologies Price Performance

FENC opened at $8.00 on Friday. The stock has a market capitalization of $224.50 million, a price-to-earnings ratio of -19.05 and a beta of 0.71. Adherex Technologies Inc. has a 12 month low of $3.96 and a 12 month high of $9.92. The business has a 50-day moving average of $8.82 and a two-hundred day moving average of $8.19.

Adherex Technologies (NASDAQ:FENC) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The company had revenue of $9.76 million for the quarter, compared to analysts’ expectations of $9.52 million. Equities research analysts anticipate that Adherex Technologies Inc. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

FENC has been the subject of a number of research reports. Zacks Research downgraded Adherex Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Craig Hallum increased their target price on shares of Adherex Technologies from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of Adherex Technologies in a report on Thursday, August 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Adherex Technologies in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Adherex Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adherex Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.33.

Hedge Funds Weigh In On Adherex Technologies

Several institutional investors and hedge funds have recently made changes to their positions in FENC. AQR Capital Management LLC acquired a new stake in shares of Adherex Technologies during the first quarter worth approximately $66,000. Jane Street Group LLC bought a new position in Adherex Technologies during the 1st quarter valued at $90,000. Nuveen LLC acquired a new position in Adherex Technologies during the 1st quarter worth $158,000. Finally, AIGH Capital Management LLC acquired a new position in Adherex Technologies during the 1st quarter worth $2,199,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Adherex Technologies 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.