Fennec Pharmaceuticals (TSE:FRX) Sets New 12-Month High - Should You Buy?

Key Points

• Fennec Pharmaceuticals reached a new 52-week high of C$15.60, up from its previous close of C$14.88. Its 50-day and 200-day moving averages were C$14.01 and C$11.68, respectively, while its market capitalization stood at approximately C$541.9 million.
• Two directors recently sold shares, though insiders still hold 16.2% of the company. Institutional ownership is 14.4%, and Cornerstone Capital initiated a position of 105,000 shares valued at roughly C$1.13 million.
• Fennec is commercializing PEDMARK/PEDMARQSI, approved in the U.S., European Union and U.K. to reduce cisplatin-related hearing damage in cancer patients; Norgine holds exclusive commercialization rights in several international markets.

Fennec Pharmaceuticals Inc. (TSE:FRX - )'s share price hit a new 52-week high during trading on Friday . The company traded as high as C$15.60 and last traded at C$15.60, with a volume of 175 shares trading hands. The stock had previously closed at C$14.88.

Fennec Pharmaceuticals Stock Performance

The company's 50-day moving average price is C$14.01 and its 200 day moving average price is C$11.68. The stock has a market capitalization of C$541.90 million, a PE ratio of -53.79 and a beta of 3.55.

Insiders Place Their Bets

In related news, Director Chris Anigeron Rallis sold 8,346 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$9.67, for a total transaction of C$80,705.82. Following the completion of the transaction, the director owned 61,314 shares of the company's stock, valued at C$592,906.38. This trade represents a 11.98% decrease in their position. Also, Director Rostislav Christov Raykov sold 9,747 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of C$13.23, for a total value of C$128,952.81. Following the transaction, the director owned 2,746,104 shares of the company's stock, valued at C$36,330,955.92. The trade was a 0.35% decrease in their ownership of the stock. Insiders own 16.20% of the company's stock.

Institutional Trading of Fennec Pharmaceuticals

A hedge fund recently bought a new position in Fennec Pharmaceuticals stock. Cornerstone Capital Inc. acquired a new stake in shares of Fennec Pharmaceuticals Inc. (TSE:FRX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 105,000 shares of the biopharmaceutical company's stock, valued at approximately $1,129,000. Cornerstone Capital Inc. owned about 0.30% of Fennec Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 14.40% of the company's stock.

About Fennec Pharmaceuticals

Fennec Pharmaceuticals Inc is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom ( U.K. ) approval in October 2023 under the brand name PEDMARQSI®. In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, with rights to commercialize PEDMARQSI® in Europe, U.K., Australia and New Zealand.

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