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

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $6.66, for a total transaction of $66,600.00. Following the transaction, the director now owns 76,294 shares of the company’s stock, valued at $508,118.04. This represents a 11.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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.
• On Thursday, December 5th, Rosty Raykov sold 796 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $6.04, for a total transaction of $4,807.84.

Fennec Pharmaceuticals Price Performance

NASDAQ FENC opened at $6.79 on Thursday. Fennec Pharmaceuticals Inc has a 12 month low of $3.96 and a 12 month high of $11.49. The firm has a market capitalization of $186.93 million, a PE ratio of -67.89 and a beta of 0.34. The company’s 50 day simple moving average is $6.11 and its 200 day simple moving average is $5.51.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.08). The firm had revenue of $6.97 million for the quarter, compared to analyst estimates of $9.13 million. Fennec Pharmaceuticals had a negative net margin of 2.30% and a negative return on equity of 53.38%. During the same quarter last year, the business posted ($0.07) earnings per share. Sell-side analysts anticipate that Fennec Pharmaceuticals Inc will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Barclays PLC lifted its holdings in Fennec Pharmaceuticals by 274.3% in the 3rd quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after acquiring an additional 22,951 shares during the last quarter. State Street Corp lifted its stake in Fennec Pharmaceuticals by 2.2% during the third quarter. State Street Corp now owns 328,259 shares of the company’s stock valued at $1,641,000 after purchasing an additional 7,053 shares during the last quarter. Franklin Resources Inc. grew its position in Fennec Pharmaceuticals by 18.7% in the third quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock worth $74,000 after buying an additional 2,330 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Fennec Pharmaceuticals in the second quarter valued at $69,000. Finally, Advantage Alpha Capital Partners LP acquired a new stake in shares of Fennec Pharmaceuticals during the 3rd quarter valued at $264,000. Institutional investors own 55.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FENC shares. Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a research report on Monday, November 18th. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a research report on Tuesday, December 17th. Finally, Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a report 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.