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

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov sold 2,431 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $4.94, for a total transaction of $12,009.14. Following the transaction, the director now directly owns 66,432 shares in the company, valued at $328,174.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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 transaction of $15,193.75.

Fennec Pharmaceuticals Stock Performance

Shares of NASDAQ:FENC traded down $0.18 during mid-day trading on Tuesday, reaching $4.82. The company had a trading volume of 67,926 shares, compared to its average volume of 117,215. The company’s 50-day moving average price is $5.64 and its 200-day moving average price is $7.31. Fennec Pharmaceuticals Inc has a one year low of $4.76 and a one year high of $11.92. The firm has a market cap of $131.72 million, a price-to-earnings ratio of 162.67 and a beta of 0.26. The company has a current ratio of 8.02, a quick ratio of 7.75 and a debt-to-equity ratio of 9.86.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). The firm had revenue of $7.26 million for the quarter, compared to analysts’ expectations 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 earned ($0.21) EPS. As a group, equities research analysts anticipate that Fennec Pharmaceuticals Inc will post -0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Fennec Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FENC. Essex Investment Management Co. LLC bought a new stake in shares of Fennec Pharmaceuticals in the first quarter valued at approximately $1,604,000. WINTON GROUP Ltd purchased a new stake in shares of Fennec Pharmaceuticals during the second quarter worth $409,000. Russell Investments Group Ltd. lifted its position in shares of Fennec Pharmaceuticals by 71,275.0% during the first quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock worth $381,000 after acquiring an additional 34,212 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of 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 acquiring an additional 20,602 shares during the period. Finally, Gendell Jeffrey L grew its position in shares of Fennec Pharmaceuticals by 7.1% in the first quarter. Gendell Jeffrey L now owns 302,478 shares of the company’s stock valued at $3,364,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors own 55.51% of the company’s stock.

Analysts Set New Price Targets

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

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.