Southpoint Capital Advisors Lp Sells 19,341 Shares of Adherex Technologies (NASDAQ:FENC) Stock

Adherex Technologies Inc. (NASDAQ:FENC) major shareholder Southpoint Capital Advisors Lp sold 19,341 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $8.79, for a total transaction of $170,007.39. Following the sale, the insider directly owned 3,744,741 shares in the company, valued at $32,916,273.39. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Southpoint Capital Advisors Lp also recently made the following trade(s):

• On Monday, November 17th, Southpoint Capital Advisors Lp sold 85,918 shares of Adherex Technologies stock. The shares were sold at an average price of $8.79, for a total value of $755,219.22.
• On Friday, November 14th, Southpoint Capital Advisors Lp sold 160,100 shares of Adherex Technologies stock. The shares were sold at an average price of $8.00, for a total value of $1,280,800.00.
• On Thursday, October 9th, Southpoint Capital Advisors Lp sold 20,609 shares of Adherex Technologies stock. The shares were sold at an average price of $9.35, for a total value of $192,694.15.
• On Wednesday, October 8th, Southpoint Capital Advisors Lp sold 19,605 shares of Adherex Technologies stock. The stock was sold at an average price of $9.47, for a total value of $185,659.35.
• On Tuesday, October 7th, Southpoint Capital Advisors Lp sold 26,900 shares of Adherex Technologies stock. The stock was sold at an average price of $9.59, for a total value of $257,971.00.

Adherex Technologies Trading Up 0.5%

NASDAQ FENC opened at $7.88 on Friday. Adherex Technologies Inc. has a 12 month low of $4.68 and a 12 month high of $9.92. The stock has a 50 day moving average of $8.61 and a 200-day moving average of $8.36. The company has a market cap of $221.56 million, a PE ratio of -18.76 and a beta of 0.71.

Adherex Technologies (NASDAQ:FENC) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.06. The firm had revenue of $12.46 million for the quarter, compared to the consensus estimate of $13.43 million. As a group, sell-side analysts predict that Adherex Technologies Inc. will post -0.11 EPS for the current fiscal year.

Institutional Trading of Adherex Technologies

A number of institutional investors have recently bought and sold shares of FENC. AQR Capital Management LLC bought a new position in shares of Adherex Technologies during the first quarter worth approximately $66,000. Jane Street Group LLC bought a new stake in shares of Adherex Technologies in the first quarter valued at approximately $90,000. Finally, Nuveen LLC acquired a new stake in Adherex Technologies during the first quarter worth approximately $158,000. Institutional investors own 55.51% of the company’s stock.

Wall Street Analysts Forecast Growth

FENC has been the topic of a number of recent analyst reports. Craig Hallum boosted their price target on Adherex Technologies from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Adherex Technologies in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Adherex Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Zacks Research lowered shares of Adherex Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Finally, HC Wainwright restated a “buy” rating and set a $13.00 target price on shares of Adherex Technologies in a research note on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.33.

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.