Fennec Pharmaceuticals Inc (NASDAQ:FENC) Short Interest Update

Fennec Pharmaceuticals Inc (NASDAQ:FENC) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,810,000 shares, an increase of 7.1% from the March 15th total of 1,690,000 shares. Based on an average daily volume of 110,600 shares, the short-interest ratio is presently 16.4 days. Approximately 9.1% of the shares of the company are sold short.

Insider Activity

In other Fennec Pharmaceuticals news, CFO Robert Andrade sold 13,975 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $11.00, for a total value of $153,725.00. Following the transaction, the chief financial officer now directly owns 105,746 shares of the company’s stock, valued at approximately $1,163,206. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Fennec Pharmaceuticals news, CEO Rosty Raykov sold 44,300 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $10.75, for a total transaction of $476,225.00. Following the transaction, the chief executive officer now owns 187,471 shares in the company, valued at approximately $2,015,313.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Andrade sold 13,975 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $11.00, for a total value of $153,725.00. Following the transaction, the chief financial officer now directly owns 105,746 shares of the company’s stock, valued at $1,163,206. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,995 shares of company stock valued at $1,327,883. Company insiders own 11.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FENC. AIGH Capital Management LLC increased its holdings in Fennec Pharmaceuticals by 6.9% during the 3rd quarter. AIGH Capital Management LLC now owns 373,526 shares of the company’s stock valued at $2,805,000 after acquiring an additional 24,069 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Fennec Pharmaceuticals during the 3rd quarter worth approximately $50,000. Gendell Jeffrey L raised its position in shares of Fennec Pharmaceuticals by 0.9% during the 3rd quarter. Gendell Jeffrey L now owns 285,992 shares of the company’s stock worth $2,148,000 after purchasing an additional 2,579 shares during the last quarter. Bank of America Corp DE lifted its stake in Fennec Pharmaceuticals by 206.1% in the 1st quarter. Bank of America Corp DE now owns 6,735 shares of the company’s stock valued at $56,000 after buying an additional 4,535 shares in the last quarter. Finally, California State Teachers Retirement System acquired a new stake in Fennec Pharmaceuticals during the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Fennec Pharmaceuticals Price Performance

Shares of NASDAQ:FENC opened at $9.70 on Thursday. The firm has a market capitalization of $262.87 million, a price-to-earnings ratio of -15.90 and a beta of 0.38. The business’s 50 day simple moving average is $10.10 and its 200-day simple moving average is $9.33. Fennec Pharmaceuticals has a 12 month low of $6.30 and a 12 month high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.12). The company had revenue of $9.74 million during the quarter, compared to analysts’ expectations of $9.47 million. On average, equities analysts anticipate that Fennec Pharmaceuticals will post 0.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Fennec Pharmaceuticals in a report on Monday, March 18th. Craig Hallum boosted their target price on shares of Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, HC Wainwright increased their price target on shares of Fennec Pharmaceuticals from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, April 4th.

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.