Rhumbline Advisers Grows Holdings in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

Rhumbline Advisers grew its holdings in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,299 shares of the company’s stock after buying an additional 3,911 shares during the quarter. Rhumbline Advisers owned 0.12% of Fennec Pharmaceuticals worth $217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FENC. Advantage Alpha Capital Partners LP bought a new position in Fennec Pharmaceuticals during the third quarter worth $264,000. State Street Corp lifted its stake in Fennec Pharmaceuticals by 2.2% in the third 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 during the last quarter. Barclays PLC lifted its stake in Fennec Pharmaceuticals by 274.3% in the third quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after buying an additional 22,951 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Fennec Pharmaceuticals by 18.7% in the third quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock valued at $74,000 after buying an additional 2,330 shares during the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Fennec Pharmaceuticals Trading Down 11.2 %

Shares of Fennec Pharmaceuticals stock opened at $6.11 on Tuesday. The company’s 50-day moving average price is $6.39 and its two-hundred day moving average price is $5.61. Fennec Pharmaceuticals Inc has a 52 week low of $3.96 and a 52 week high of $11.49. The stock has a market cap of $168.40 million, a PE ratio of -61.09 and a beta of 0.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of Fennec Pharmaceuticals in a research note on Tuesday, December 17th. Stephens upgraded shares of Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Fennec Pharmaceuticals in a research note on Monday.

Insiders Place Their Bets

In other Fennec Pharmaceuticals news, Director Rosty Raykov sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $6.66, for a total transaction of $66,600.00. Following the sale, the director now owns 76,294 shares in the company, valued at approximately $508,118.04. The trade was a 11.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 31,186 shares of company stock worth $203,389. 10.98% of the stock is owned by corporate insiders.

Fennec Pharmaceuticals 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.