Franklin Resources Inc. Has $74,000 Holdings in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

Franklin Resources Inc. boosted its stake in Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 18.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,799 shares of the company’s stock after purchasing an additional 2,330 shares during the period. Franklin Resources Inc. owned about 0.05% of Fennec Pharmaceuticals worth $74,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. WINTON GROUP Ltd bought a new stake in Fennec Pharmaceuticals in the second quarter worth approximately $409,000. Advantage Alpha Capital Partners LP acquired a new position in shares of Fennec Pharmaceuticals during the 3rd quarter valued at $264,000. Barclays PLC lifted its position 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 acquiring an additional 22,951 shares during the period. Bank of New York Mellon Corp grew its holdings in Fennec Pharmaceuticals by 42.8% in the second quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after purchasing an additional 20,602 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in Fennec Pharmaceuticals in the second quarter valued at $69,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FENC shares. Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a report on Friday, December 20th. Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Fennec Pharmaceuticals in a research report on Tuesday, December 17th.

Insider Transactions at Fennec Pharmaceuticals

In related news, Director Chris A. Rallis sold 6,409 shares of Fennec Pharmaceuticals stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.14, for a total value of $39,351.26. Following the completion of the transaction, the director now directly owns 52,214 shares in the company, valued at approximately $320,593.96. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 11,042 shares of company stock worth $61,006. 10.98% of the stock is owned by company insiders.

Fennec Pharmaceuticals Stock Performance

NASDAQ:FENC opened at $6.29 on Friday. The company has a market capitalization of $172.79 million, a P/E ratio of -62.89 and a beta of 0.35. The business has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $5.54. The company has a debt-to-equity ratio of 9.86, a current ratio of 7.80 and a quick ratio of 7.64. Fennec Pharmaceuticals Inc has a 1 year low of $3.96 and a 1 year high of $11.49.

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.