Fennec Pharmaceuticals (TSE:FRX) Shares Cross Below Fifty Day Moving Average - What's Next?

Key Points

• Technical breach: Fennec's stock fell below its 50‑day moving average (C$10.32), trading as low as C$9.04 on Thursday with just 124 shares changing hands.
• Analyst sentiment: B. Riley upgraded the stock to a "Strong Buy" on Feb. 11 and MarketBeat shows a consensus rating of Strong Buy.
• Insider activity and fundamentals: Director Rostislav Raykov sold 10,349 shares at C$10.69 on Feb. 2, insiders still own 16.20% of the company, which has a market cap of C$311.65M and a negative P/E of -26.59.

Fennec Pharmaceuticals Inc. (TSE:FRX - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$10.32 and traded as low as C$9.04. Fennec Pharmaceuticals shares last traded at C$9.04, with a volume of 124 shares traded.

Analyst Ratings Changes

Separately, B. Riley Financial upgraded Fennec Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Fennec Pharmaceuticals currently has a consensus rating of "Strong Buy".

Fennec Pharmaceuticals Stock Up 1.2%

The stock has a market cap of C$311.65 million, a P/E ratio of -26.59 and a beta of 3.09. The firm's 50-day moving average is C$10.32 and its two-hundred day moving average is C$10.97.

Insider Transactions at Fennec Pharmaceuticals

In other Fennec Pharmaceuticals news, Director Rostislav Christov Raykov sold 10,349 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of C$10.69, for a total transaction of C$110,630.81. Following the transaction, the director directly owned 2,709,294 shares of the company's stock, valued at C$28,962,352.86. This represents a 0.38% decrease in their ownership of the stock. Corporate insiders own 16.20% of the company's stock.

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.

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