Chris Rallis Sells 1,775 Shares of Adherex Technologies (NASDAQ:FENC) Stock

Key Points

• Director Chris Rallis of Adherex Technologies sold 1,775 shares at $9.24 each, totaling approximately $16,401, reducing his position by 3.02%.
• Adherex Technologies' stock is currently valued at $8.27, down 2.0%, with a market cap of $230.82 million and a P/E ratio of -19.69.
• Analysts have mixed ratings on Adherex Technologies, with a consensus rating of "Moderate Buy" and an average target price of $13.33.

Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) Director Chris Rallis sold 1,775 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $9.24, for a total transaction of $16,401.00. Following the transaction, the director owned 57,079 shares of the company's stock, valued at $527,409.96. The trade was a 3.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Adherex Technologies Stock Down 2.0%

FENC traded down $0.17 during trading hours on Tuesday, hitting $8.27. 47,094 shares of the company's stock were exchanged, compared to its average volume of 77,659. Adherex Technologies Inc. has a 1-year low of $3.96 and a 1-year high of $9.92. The stock's 50-day moving average is $8.82 and its two-hundred day moving average is $7.81. The stock has a market cap of $230.82 million, a price-to-earnings ratio of -19.69 and a beta of 0.64.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The company had revenue of $9.76 million for the quarter, compared to analyst estimates of $9.52 million. On average, equities research analysts anticipate that Adherex Technologies Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on FENC shares. HC Wainwright reiterated a "buy" rating and issued a $13.00 price target on shares of Adherex Technologies in a research note on Thursday, August 21st. Wall Street Zen upgraded shares of Adherex Technologies from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Craig Hallum increased their price target on shares of Adherex Technologies from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adherex Technologies in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of Adherex Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $13.33.

Hedge Funds Weigh In On Adherex Technologies

A number of hedge funds have recently bought and sold shares of FENC. AIGH Capital Management LLC bought a new position in Adherex Technologies during the first quarter worth about $2,199,000. Nuveen LLC acquired a new stake in Adherex Technologies during the first quarter worth about $158,000. Jane Street Group LLC acquired a new stake in Adherex Technologies during the first quarter worth about $90,000. Finally, AQR Capital Management LLC acquired a new stake in Adherex Technologies during the first quarter worth about $66,000. 55.51% of the stock is owned by institutional investors.

Adherex Technologies 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.

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