Fennec Pharmaceuticals (TSE:FRX) Stock Price Passes Above 50 Day Moving Average – Here’s Why

Fennec Pharmaceuticals Inc. (TSE:FRX) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$10.77 and traded as high as C$10.96. Fennec Pharmaceuticals shares last traded at C$10.46, with a volume of 1,573 shares.

Fennec Pharmaceuticals Stock Up 0.6%

The stock has a market cap of C$357.24 million, a P/E ratio of -40.23 and a beta of 2.78. The company has a current ratio of 7.80, a quick ratio of 10.17 and a debt-to-equity ratio of -620.83. The firm’s fifty day moving average is C$10.77 and its 200 day moving average is C$11.57.

Insider Buying and Selling at Fennec Pharmaceuticals

In related news, insider Southpoint Capital Advisors Lp sold 160,100 shares of the 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 transaction of C$1,799,524.00. Following the completion of the sale, the insider owned 3,850,000 shares in the company, valued at C$43,274,000. This represents a 3.99% decrease in their position. Corporate insiders own 16.20% of the company’s stock.

About Fennec Pharmaceuticals

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.