Fennec Pharmaceuticals (TSE:FRX) Stock Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Fennec Pharmaceuticals Inc. shares surpassed their 50-day moving average, trading at C$12.78, which indicates positive momentum in the stock's performance.
• The company has a market capitalization of C$355.69 million and significant liquidity with a current ratio of 7.80 and a quick ratio of 10.17.
• Insider activity shows that Director Rostislav Christov Raykov sold 10,000 shares at an average price of C$11.71, raising a total of C$117,096 in July.

Fennec Pharmaceuticals Inc. (TSE:FRX - Get Free Report) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$11.87 and traded as high as C$12.78. Fennec Pharmaceuticals shares last traded at C$12.78, with a volume of 100 shares.

Fennec Pharmaceuticals Price Performance

The company has a quick ratio of 10.17, a current ratio of 7.80 and a debt-to-equity ratio of -620.83. The stock's 50-day simple moving average is C$11.90 and its two-hundred day simple moving average is C$10.35. The company has a market capitalization of C$350.40 million, a price-to-earnings ratio of -27.98 and a beta of 2.09.

Insider Transactions at Fennec Pharmaceuticals

In related news, Director Rostislav Christov Raykov sold 10,000 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of C$11.71, for a total transaction of C$117,096.00. Insiders have sold 13,246 shares of company stock worth $137,297 in the last ninety 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.