Verition Fund Management LLC Sells 23,113 Shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC)

Verition Fund Management LLC decreased its position in Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 68.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,625 shares of the company’s stock after selling 23,113 shares during the quarter. Verition Fund Management LLC’s holdings in Fennec Pharmaceuticals were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in shares of Fennec Pharmaceuticals during the second quarter worth approximately $49,000. The Manufacturers Life Insurance Company bought a new position in shares of Fennec Pharmaceuticals during the 2nd quarter valued at $69,000. Rhumbline Advisers grew its holdings in shares of Fennec Pharmaceuticals by 44.7% during the 2nd 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 purchased a new position in Fennec Pharmaceuticals in the 3rd quarter worth $264,000. Finally, WINTON GROUP Ltd bought a new stake in Fennec Pharmaceuticals in the second quarter worth $409,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FENC. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. Wedbush restated an “outperform” rating and set a $13.00 price target (down from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Fennec Pharmaceuticals in a research report on Tuesday.

Insider Buying and Selling

In other Fennec Pharmaceuticals news, Director Chris A. Rallis sold 6,409 shares of Fennec Pharmaceuticals stock in a transaction that occurred 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 sale, the director now directly owns 52,214 shares of the company’s stock, valued at approximately $320,593.96. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 13,473 shares of company stock valued at $73,015 over the last quarter. 10.98% of the stock is owned by company insiders.

Fennec Pharmaceuticals Trading Up 2.0 %

NASDAQ FENC opened at $6.07 on Wednesday. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.64 and a current ratio of 7.80. Fennec Pharmaceuticals Inc has a fifty-two week low of $3.96 and a fifty-two week high of $11.92. The stock has a market cap of $166.74 million, a P/E ratio of -59.80 and a beta of 0.35. The stock has a 50 day simple moving average of $4.99 and a two-hundred day simple moving average of $5.59.

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.