Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov Sells 10,000 Shares

Fennec Pharmaceuticals Inc (NASDAQ:FENC - Get Free Report) Director Rosty Raykov sold 10,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $6.79, for a total transaction of $67,900.00. Following the completion of the sale, the director now directly owns 68,725 shares in the company, valued at $466,642.75. This trade represents a 12.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rosty Raykov also recently made the following trade(s):

• On Wednesday, February 5th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $6.66, for a total value of $66,600.00.
• On Monday, January 6th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $6.08, for a total transaction of $60,800.00.

Fennec Pharmaceuticals Price Performance

NASDAQ:FENC traded down $0.77 during mid-day trading on Monday, reaching $6.11. The stock had a trading volume of 187,452 shares, compared to its average volume of 111,607. The business's 50 day moving average is $6.39 and its 200 day moving average is $5.61. Fennec Pharmaceuticals Inc has a fifty-two week low of $3.96 and a fifty-two week high of $11.49. The stock has a market cap of $168.40 million, a P/E ratio of -61.09 and a beta of 0.36.

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Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report) last posted its quarterly earnings data on Monday, March 10th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.62). Fennec Pharmaceuticals had a negative net margin of 2.30% and a negative return on equity of 53.38%. Equities analysts expect that Fennec Pharmaceuticals Inc will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Fennec Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FENC. Intech Investment Management LLC acquired a new position in Fennec Pharmaceuticals during the 4th quarter worth about $69,000. Franklin Resources Inc. grew its stake in shares of Fennec Pharmaceuticals by 18.7% during the 3rd quarter. Franklin Resources Inc. now owns 14,799 shares of the company's stock worth $74,000 after acquiring an additional 2,330 shares during the period. Wells Fargo & Company MN lifted its holdings in Fennec Pharmaceuticals by 31.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,152 shares of the company's stock worth $83,000 after purchasing an additional 3,155 shares in the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new position in Fennec Pharmaceuticals during the fourth quarter worth about $97,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Fennec Pharmaceuticals during the 4th quarter valued at about $99,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FENC. HC Wainwright reissued a "buy" rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a research report on Tuesday, December 17th. Stephens raised shares of Fennec Pharmaceuticals to a "strong-buy" rating in a report on Monday, November 18th. Finally, Wedbush reaffirmed an "outperform" rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Friday, December 20th.

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.