Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Sells 10,000 Shares of Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.79, for a total transaction of $67,900.00. Following the completion of the sale, the director now directly owns 68,725 shares of the company’s stock, valued at approximately $466,642.75. This trade represents a 12.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, February 5th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $6.66, for a total transaction of $66,600.00.
• On Monday, January 6th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $6.08, for a total transaction of $60,800.00.

Fennec Pharmaceuticals Stock Performance

NASDAQ:FENC opened at $6.88 on Friday. The stock has a market capitalization of $189.63 million, a P/E ratio of -68.79 and a beta of 0.36. The company has a 50 day moving average price of $6.39 and a 200 day moving average price of $5.61. Fennec Pharmaceuticals Inc has a fifty-two week low of $3.96 and a fifty-two week high of $11.49.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FENC shares. Stephens raised shares of Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Friday, December 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Fennec Pharmaceuticals in a research report on Tuesday, December 17th.

Hedge Funds Weigh In On Fennec Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new position in shares of Fennec Pharmaceuticals during the 4th quarter worth approximately $69,000. Franklin Resources Inc. lifted its holdings in 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 buying an additional 2,330 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Fennec Pharmaceuticals by 31.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,152 shares of the company’s stock worth $83,000 after buying an additional 3,155 shares in the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new stake in Fennec Pharmaceuticals during the 4th quarter worth approximately $97,000. Finally, MetLife Investment Management LLC acquired a new stake in Fennec Pharmaceuticals during the 4th quarter worth approximately $99,000. Hedge funds and other institutional investors 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.