Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Sells $39,351.26 in Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Chris A. Rallis sold 6,409 shares of Fennec Pharmaceuticals stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.14, for a total value of $39,351.26. Following the transaction, the director now owns 52,214 shares in the company, valued at $320,593.96. This trade represents a 10.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Fennec Pharmaceuticals Stock Performance

Shares of FENC stock traded up $0.18 during trading on Monday, reaching $6.24. 320,354 shares of the company’s stock were exchanged, compared to its average volume of 118,576. The company has a quick ratio of 7.64, a current ratio of 7.80 and a debt-to-equity ratio of 9.86. The stock has a market capitalization of $171.16 million, a PE ratio of -60.59 and a beta of 0.27. Fennec Pharmaceuticals Inc has a twelve month low of $3.96 and a twelve month high of $11.92. The firm’s fifty day moving average price is $4.72 and its 200-day moving average price is $5.66.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its holdings in shares of Fennec Pharmaceuticals by 18.7% during the 3rd quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock worth $74,000 after acquiring an additional 2,330 shares during the last quarter. State Street Corp increased its holdings in shares of Fennec Pharmaceuticals by 2.2% during the 3rd quarter. State Street Corp now owns 328,259 shares of the company’s stock worth $1,641,000 after acquiring an additional 7,053 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Fennec Pharmaceuticals during the 2nd quarter worth approximately $49,000. Rhumbline Advisers grew its holdings in Fennec Pharmaceuticals by 44.7% in the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after buying an additional 8,987 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Fennec Pharmaceuticals in the 2nd quarter valued at $69,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FENC. Craig Hallum cut their price objective on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. HC Wainwright cut their target price on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Wedbush restated an “outperform” rating and issued a $13.00 target price (down previously from $14.00) on shares of Fennec Pharmaceuticals in a research note on Thursday, November 7th.

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.