Fennec Pharmaceuticals (TSE:FRX) Stock Passes Above 50 Day Moving Average - Here's Why

Key Points

• Fennec Pharmaceuticals' stock price exceeded its 50-day moving average of C$11.75, trading at C$12.35 with a volume of 2,112 shares.
• The company holds a market cap of C$343.73 million and has a debt-to-equity ratio of -620.83 indicating significant financial leverage.
• Insider activity includes the sale of 10,000 shares by Director Rostislav Christov Raykov for a total of C$117,096, with company insiders holding 16.20% of the stock.

Fennec Pharmaceuticals Inc. (TSE:FRX - Get Free Report)'s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$11.75 and traded as high as C$12.35. Fennec Pharmaceuticals shares last traded at C$12.35, with a volume of 2,112 shares traded.

Fennec Pharmaceuticals Trading Down 0.2%

The firm has a market capitalization of C$345.12 million, a PE ratio of -27.56 and a beta of 2.09. The company has a debt-to-equity ratio of -620.83, a quick ratio of 10.17 and a current ratio of 7.80. The firm has a fifty day moving average of C$11.80 and a 200 day moving average of C$10.22.

Insider Buying and Selling at Fennec Pharmaceuticals

In other news, Director Rostislav Christov Raykov sold 10,000 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of C$11.71, for a total value of C$117,096.00. Insiders sold a total of 13,246 shares of company stock worth $137,297 in the last 90 days. 16.20% of the stock is currently owned by company insiders.

Fennec Pharmaceuticals Company Profile

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.