State Street Corp Has $1.64 Million Stake in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

State Street Corp raised its stake in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 328,259 shares of the company’s stock after purchasing an additional 7,053 shares during the period. State Street Corp owned 1.20% of Fennec Pharmaceuticals worth $1,641,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FENC. Acadian Asset Management LLC bought a new stake in Fennec Pharmaceuticals during the second quarter valued at $49,000. Rhumbline Advisers boosted its position 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 in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Fennec Pharmaceuticals during the 2nd quarter valued at about $69,000. Bank of New York Mellon Corp grew its stake in Fennec Pharmaceuticals by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after purchasing an additional 20,602 shares during the period. Finally, Advantage Alpha Capital Partners LP bought a new stake in Fennec Pharmaceuticals in the third quarter worth approximately $264,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Fennec Pharmaceuticals Price Performance

Shares of NASDAQ FENC opened at $6.32 on Thursday. The stock has a fifty day moving average of $5.38 and a 200-day moving average of $5.54. The stock has a market cap of $173.61 million, a PE ratio of -63.19 and a beta of 0.35. 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 $11.49.

Insider Buying and Selling at Fennec Pharmaceuticals

In other news, Director Chris A. Rallis sold 6,409 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.14, for a total value 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 represents a 10.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 11,042 shares of company stock worth $61,006 over the last three months. 10.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.