Barclays PLC Raises Holdings in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

Barclays PLC increased its position in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 274.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,319 shares of the company’s stock after purchasing an additional 22,951 shares during the quarter. Barclays PLC owned approximately 0.11% of Fennec Pharmaceuticals worth $157,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new stake in Fennec Pharmaceuticals in the 2nd quarter valued at $69,000. Rhumbline Advisers grew its holdings in Fennec Pharmaceuticals by 44.7% in the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after buying an additional 8,987 shares in the last quarter. Advantage Alpha Capital Partners LP purchased a new stake in Fennec Pharmaceuticals in the 3rd quarter valued at $264,000. Bank of New York Mellon Corp grew its holdings in Fennec Pharmaceuticals by 42.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock valued at $420,000 after buying an additional 20,602 shares in the last quarter. Finally, State Street Corp grew its holdings in Fennec Pharmaceuticals by 2.2% in the 3rd quarter. State Street Corp now owns 328,259 shares of the company’s stock valued at $1,641,000 after buying an additional 7,053 shares in the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FENC has been the subject of a number of research analyst reports. Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a report on Tuesday, December 17th. Finally, Wedbush reiterated an “outperform” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a report on Friday, December 20th.

Fennec Pharmaceuticals Stock Performance

FENC opened at $5.73 on Thursday. Fennec Pharmaceuticals Inc has a one year low of $3.96 and a one year high of $11.49. The company has a market cap of $157.75 million, a P/E ratio of -57.29 and a beta of 0.34. The business’s 50-day simple moving average is $5.79 and its 200-day simple moving average is $5.50.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). The firm had revenue of $6.97 million for the quarter, compared to analysts’ expectations of $9.13 million. Fennec Pharmaceuticals had a negative return on equity of 53.38% and a negative net margin of 2.30%. During the same quarter in the prior year, the business earned ($0.07) EPS. As a group, analysts predict that Fennec Pharmaceuticals Inc will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Rosty Raykov sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $6.08, for a total value of $60,800.00. Following the completion of the sale, the director now directly owns 83,863 shares of the company’s stock, valued at $509,887.04. This trade represents a 10.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Chris A. Rallis sold 6,409 shares of Fennec Pharmaceuticals stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.14, for a total value of $39,351.26. Following the transaction, the director now directly owns 52,214 shares of the company’s stock, valued at approximately $320,593.96. This represents a 10.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,636 shares of company stock valued at $115,437 in the last three months. 10.98% of the stock is currently owned by company insiders.

Fennec Pharmaceuticals 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.