Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Sells $52,500.00 in Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $5.25, for a total value of $52,500.00. Following the completion of the transaction, the director now directly owns 61,156 shares of the company’s stock, valued at approximately $321,069. This represents a 14.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, March 5th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $6.79, for a total transaction of $67,900.00.
• On Wednesday, February 5th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $6.66, for a total transaction of $66,600.00.
• On Monday, January 6th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $6.08, for a total transaction of $60,800.00.

Fennec Pharmaceuticals Price Performance

Fennec Pharmaceuticals stock traded down $0.34 during midday trading on Friday, reaching $5.25. 172,838 shares of the company traded hands, compared to its average volume of 110,022. Fennec Pharmaceuticals Inc has a 12 month low of $3.96 and a 12 month high of $11.11. The business has a 50 day moving average of $6.53 and a two-hundred day moving average of $5.72. The firm has a market capitalization of $144.84 million, a price-to-earnings ratio of -52.49 and a beta of 0.32.

Institutional Investors Weigh In On Fennec Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Fennec Pharmaceuticals in the 4th quarter worth $97,000. Bank of America Corp DE lifted its holdings in Fennec Pharmaceuticals by 32.1% in the fourth quarter. Bank of America Corp DE now owns 35,827 shares of the company’s stock valued at $226,000 after acquiring an additional 8,703 shares during the period. BNP Paribas Financial Markets boosted its position in Fennec Pharmaceuticals by 11.5% in the fourth quarter. BNP Paribas Financial Markets now owns 44,626 shares of the company’s stock worth $282,000 after purchasing an additional 4,610 shares during the last quarter. Solas Capital Management LLC grew its stake in shares of Fennec Pharmaceuticals by 17.0% during the 4th quarter. Solas Capital Management LLC now owns 2,250,919 shares of the company’s stock valued at $14,226,000 after purchasing an additional 327,383 shares during the period. Finally, MetLife Investment Management LLC purchased a new stake in shares of Fennec Pharmaceuticals during the 4th quarter valued at about $99,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FENC. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Fennec Pharmaceuticals in a research report on Monday, March 10th. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Tuesday, March 11th.

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.