Adherex Technologies (NASDAQ:FENC) Director Sells $80,308.24 in Stock

Adherex Technologies Inc. (NASDAQ:FENC) Director Rosty Raykov sold 10,349 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $7.76, for a total transaction of $80,308.24. Following the sale, the director directly owned 98,477 shares in the company, valued at approximately $764,181.52. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, December 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The stock was sold at an average price of $7.54, for a total transaction of $75,400.00.
• On Wednesday, November 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The stock was sold at an average price of $8.10, for a total value of $81,000.00.

Adherex Technologies Trading Up 0.4%

Shares of NASDAQ FENC opened at $7.94 on Thursday. The stock has a market cap of $271.23 million, a P/E ratio of -34.52 and a beta of 0.77. The business’s fifty day simple moving average is $7.66 and its 200-day simple moving average is $8.26. Adherex Technologies Inc. has a 12-month low of $4.68 and a 12-month high of $9.92.

Adherex Technologies (NASDAQ:FENC) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.06. The company had revenue of $12.46 million for the quarter, compared to analysts’ expectations of $13.43 million. On average, equities analysts forecast that Adherex Technologies Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

FENC has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Adherex Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Adherex Technologies in a report on Thursday, January 22nd. Zacks Research upgraded shares of Adherex Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Finally, Piper Sandler began coverage on Adherex Technologies in a report on Friday, January 9th. They issued an “overweight” rating and a $18.00 target price on the stock. Four investment 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Institutional Trading of Adherex Technologies

A hedge fund recently bought a new stake in Adherex Technologies stock. AQR Capital Management LLC bought a new stake in Adherex Technologies Inc. (NASDAQ:FENC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,897 shares of the company’s stock, valued at approximately $66,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Adherex Technologies 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. 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.