Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Sells $12,009.14 in Stock

by · The Cerbat Gem

Fennec Pharmaceuticals Inc (NASDAQ:FENC – Get Free Report) Director Rosty Raykov sold 2,431 shares of Fennec Pharmaceuticals stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $4.94, for a total value of $12,009.14. Following the sale, the director now directly owns 66,432 shares in the company, valued at $328,174.08. The sale 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 Thursday, August 1st, Rosty Raykov sold 2,431 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $6.25, for a total value of $15,193.75.

Fennec Pharmaceuticals Trading Down 2.2 %

Shares of NASDAQ FENC opened at $4.52 on Friday. 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’s 50 day moving average price is $5.52 and its two-hundred day moving average price is $7.24. Fennec Pharmaceuticals Inc has a 52-week low of $4.50 and a 52-week high of $11.92. The stock has a market capitalization of $123.52 million, a P/E ratio of 150.67 and a beta of 0.26.

Fennec Pharmaceuticals (NASDAQ:FENC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.26). The firm had revenue of $7.26 million for the quarter, compared to analyst estimates of $13.67 million. Fennec Pharmaceuticals had a net margin of 5.59% and a negative return on equity of 53.38%. During the same period in the prior year, the company posted ($0.21) earnings per share. On average, analysts anticipate that Fennec Pharmaceuticals Inc will post -0.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. HC Wainwright cut their target price on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target (down from $16.00) on shares of Fennec Pharmaceuticals in a report on Tuesday, August 13th. Finally, Craig Hallum decreased their price objective on shares of Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 14th.

Read Our Latest Report on Fennec Pharmaceuticals

Institutional Investors Weigh In On Fennec Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gendell Jeffrey L raised its position in shares of Fennec Pharmaceuticals by 7.1% during 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. Essex Investment Management Co. LLC acquired a new stake in shares of Fennec Pharmaceuticals during the 1st quarter valued at approximately $1,604,000. Bank of New York Mellon Corp raised 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 in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Fennec Pharmaceuticals during the 2nd quarter valued at approximately $409,000. Finally, Russell Investments Group Ltd. raised its position in shares of Fennec Pharmaceuticals by 71,275.0% during the 1st quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock valued at $381,000 after acquiring an additional 34,212 shares in the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

About Fennec Pharmaceuticals

(Get Free Report)

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.

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