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

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $7.78, for a total value of $77,800.00. Following the completion of the transaction, the director now owns 65,462 shares of the company’s stock, valued at $509,294.36. This trade represents a 13.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, May 5th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $6.31, for a total value of $63,100.00.
• On Friday, April 4th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $5.25, for a total value of $52,500.00.

Fennec Pharmaceuticals Stock Up 6.7%

Shares of NASDAQ FENC opened at $8.43 on Friday. The firm’s 50-day moving average price is $6.39 and its two-hundred day moving average price is $6.30. Fennec Pharmaceuticals Inc has a 52-week low of $3.96 and a 52-week high of $8.72. The stock has a market capitalization of $232.83 million, a P/E ratio of -84.29 and a beta of 0.32.

Fennec Pharmaceuticals (NASDAQ:FENC) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.08. Fennec Pharmaceuticals had a negative net margin of 2.30% and a negative return on equity of 53.38%. The company had revenue of $8.51 million for the quarter, compared to analyst estimates of $8.18 million. During the same quarter last year, the business earned $0.41 earnings per share. As a group, equities research analysts expect that Fennec Pharmaceuticals Inc will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a report on Monday, March 10th. Craig Hallum increased their price target on shares of Fennec Pharmaceuticals from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a research report on Tuesday, May 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Solas Capital Management LLC increased its stake in shares of Fennec Pharmaceuticals by 17.0% during the fourth quarter. Solas Capital Management LLC now owns 2,250,919 shares of the company’s stock valued at $14,226,000 after acquiring an additional 327,383 shares during the period. Rosalind Advisors Inc. acquired a new position in Fennec Pharmaceuticals in the 4th quarter worth approximately $7,962,000. AIGH Capital Management LLC acquired a new position in Fennec Pharmaceuticals in the 1st quarter worth approximately $2,199,000. Geode Capital Management LLC boosted its stake in shares of Fennec Pharmaceuticals by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 303,090 shares of the company’s stock valued at $1,916,000 after buying an additional 3,792 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Fennec Pharmaceuticals by 10.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 61,146 shares of the company’s stock valued at $386,000 after buying an additional 5,694 shares during the period. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.