Fennec Pharmaceuticals (TSE:FRX) Stock Price Crosses Below 50-Day Moving Average – Should You Sell?

Fennec Pharmaceuticals Inc. (TSE:FRX) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$11.28 and traded as low as C$10.61. Fennec Pharmaceuticals shares last traded at C$10.63, with a volume of 404 shares trading hands.

Fennec Pharmaceuticals Stock Performance

The firm’s 50 day simple moving average is C$11.26 and its 200 day simple moving average is C$11.68. The firm has a market cap of C$363.05 million, a PE ratio of -40.88 and a beta of 2.51. The company has a current ratio of 7.80, a quick ratio of 10.17 and a debt-to-equity ratio of -620.83.

Insiders Place Their Bets

In other Fennec Pharmaceuticals news, insider Southpoint Capital Advisors Lp sold 160,100 shares of Fennec Pharmaceuticals stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of C$11.24, for a total value of C$1,799,524.00. Following the sale, the insider owned 3,850,000 shares of the company’s stock, valued at C$43,274,000. The trade was a 3.99% decrease in their position. In the last three months, insiders sold 314,907 shares of company stock worth $3,761,017. Company insiders own 16.20% of the company’s stock.

Fennec Pharmaceuticals Company Profile

Fennec Pharmaceuticals Inc is a clinical-stage biotechnology company. It is primarily engaged in research and development activities. The company is developing Sodium Thiosulfate (STS), a chemo-protectant against hearing loss associated with platinum-based chemotherapy. Its lead product candidate is PEDMARK which is sodium thiosulfate in a novel formulation for the prevention of cisplatin induced hearing loss, or ototoxicity in children.