Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) COO Sells 22,222 Shares of Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) COO Adrian Haigh sold 22,222 shares of Fennec Pharmaceuticals stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $10.30, for a total value of $228,886.60. Following the completion of the transaction, the chief operating officer now owns 22,222 shares in the company, valued at $228,886.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Adrian Haigh also recently made the following trade(s):

• On Wednesday, April 17th, Adrian Haigh sold 22,222 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $9.91, for a total value of $220,220.02.

Fennec Pharmaceuticals Trading Down 2.4 %

NASDAQ FENC opened at $9.34 on Friday. The stock’s 50 day moving average is $10.09 and its two-hundred day moving average is $9.33. The company has a market capitalization of $253.11 million, a price-to-earnings ratio of -15.31 and a beta of 0.38. Fennec Pharmaceuticals Inc has a 1-year low of $6.30 and a 1-year high of $11.92.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Fennec Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Fennec Pharmaceuticals by 1,294.3% during the fourth quarter. Vanguard Group Inc. now owns 1,140,063 shares of the company’s stock valued at $12,792,000 after purchasing an additional 1,058,295 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Fennec Pharmaceuticals by 78.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 31,000 shares of the company’s stock worth $348,000 after acquiring an additional 13,664 shares in the last quarter. Barclays PLC boosted its holdings in shares of Fennec Pharmaceuticals by 624.7% in the 4th quarter. Barclays PLC now owns 25,075 shares of the company’s stock worth $282,000 after acquiring an additional 21,615 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Fennec Pharmaceuticals by 21.1% in the 4th quarter. Royal Bank of Canada now owns 7,102 shares of the company’s stock worth $79,000 after acquiring an additional 1,236 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Fennec Pharmaceuticals by 107.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company’s stock worth $34,000 after acquiring an additional 1,578 shares in the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

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.