Fennec Pharmaceuticals Inc (NASDAQ:FENC) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its stake in Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,016 shares of the company’s stock after selling 6,894 shares during the period. BNP Paribas Financial Markets owned approximately 0.15% of Fennec Pharmaceuticals worth $200,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in Fennec Pharmaceuticals during the 2nd quarter valued at $49,000. The Manufacturers Life Insurance Company acquired a new position in shares of Fennec Pharmaceuticals in the second quarter worth about $69,000. Rhumbline Advisers boosted its holdings in Fennec Pharmaceuticals by 44.7% in the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after purchasing an additional 8,987 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in Fennec Pharmaceuticals during the 3rd quarter valued at approximately $264,000. Finally, WINTON GROUP Ltd purchased a new stake in Fennec Pharmaceuticals during the 2nd quarter worth approximately $409,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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 transaction of $39,351.26. Following the completion of the sale, the director now owns 52,214 shares of the company’s stock, valued at approximately $320,593.96. This trade represents a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 13,473 shares of company stock valued at $73,015. Company insiders own 10.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on FENC shares. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target (down previously from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th. HC Wainwright decreased their target price on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th.

Fennec Pharmaceuticals Stock Performance

Shares of FENC opened at $5.95 on Tuesday. The company has a debt-to-equity ratio of 9.86, a current ratio of 7.80 and a quick ratio of 7.64. The firm’s 50 day moving average is $4.97 and its 200-day moving average is $5.60. Fennec Pharmaceuticals Inc has a 12-month low of $3.96 and a 12-month high of $11.92. The stock has a market capitalization of $163.45 million, a P/E ratio of -59.50 and a beta of 0.35.

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.