Insider Selling: Adherex Technologies (NASDAQ:FENC) Insider Sells $146,160.00 in Stock

Adherex Technologies Inc. (NASDAQ:FENC) insider Pierre Sargis Sayad sold 12,000 shares of Adherex Technologies stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $12.18, for a total transaction of $146,160.00. Following the transaction, the insider directly owned 9,519 shares in the company, valued at $115,941.42. This represents a 55.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Adherex Technologies Price Performance

FENC opened at $12.31 on Thursday. The company has a 50 day simple moving average of $10.94 and a two-hundred day simple moving average of $9.00. The firm has a market cap of $431.59 million, a P/E ratio of -94.69 and a beta of 1.10. Adherex Technologies Inc. has a 1-year low of $5.65 and a 1-year high of $13.25.

Adherex Technologies (NASDAQ:FENC) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Adherex Technologies had a negative return on equity of 5.71% and a negative net margin of 6.09%.The business had revenue of $17.87 million for the quarter, compared to analysts’ expectations of $16.21 million. Equities analysts anticipate that Adherex Technologies Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FENC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a research note on Friday, July 17th. HC Wainwright lifted their price objective on shares of Adherex Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Zacks Research raised shares of Adherex Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. B. Riley Financial restated a “buy” rating and set a $18.00 target price (up from $16.00) on shares of Adherex Technologies in a report on Wednesday, August 12th. Finally, Wedbush increased their target price on Adherex Technologies from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Adherex Technologies has an average rating of “Moderate Buy” and an average price target of $17.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Adherex Technologies stock. Jane Street Group LLC bought a new stake in Adherex Technologies Inc. (NASDAQ:FENC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned approximately 0.05% of Adherex Technologies as of its most recent SEC filing. Institutional investors own 55.51% of the company’s stock.

About Adherex Technologies

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. The company was formerly known as Adherex Technologies Inc and changed its name to Fennec Pharmaceuticals Inc in September 2014. Fennec Pharmaceuticals Inc was founded in 1996 and is based in Research Triangle Park, North Carolina.