Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Sells 10,000 Shares of Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC - Get Free Report) Director Rosty Raykov sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $7.78, for a total transaction of $77,800.00. Following the transaction, the director now owns 65,462 shares of the company's stock, valued at $509,294.36. This trade represents a 13.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rosty Raykov also recently made the following trade(s):

• On Monday, May 5th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $6.31, for a total transaction of $63,100.00.
• On Friday, April 4th, Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $5.25, for a total value of $52,500.00.

Fennec Pharmaceuticals Stock Up 6.7%

FENC traded up $0.53 on Friday, reaching $8.43. The company had a trading volume of 120,953 shares, compared to its average volume of 96,338. Fennec Pharmaceuticals Inc has a 1 year low of $3.96 and a 1 year high of $8.65. The stock has a market capitalization of $232.83 million, a PE ratio of -84.29 and a beta of 0.32. The stock has a 50-day moving average price of $6.33 and a 200-day moving average price of $6.27.

Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.08. The business had revenue of $8.51 million during the quarter, compared to the consensus estimate of $8.18 million. Fennec Pharmaceuticals had a negative return on equity of 53.38% and a negative net margin of 2.30%. During the same period in the previous year, the business earned $0.41 EPS. As a group, analysts expect that Fennec Pharmaceuticals Inc will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FENC. Rosalind Advisors Inc. purchased a new position in shares of Fennec Pharmaceuticals during the fourth quarter worth approximately $7,962,000. AIGH Capital Management LLC acquired a new stake in Fennec Pharmaceuticals during the 1st quarter worth $2,199,000. Solas Capital Management LLC grew its position in Fennec Pharmaceuticals by 17.0% during the 4th quarter. Solas Capital Management LLC now owns 2,250,919 shares of the company's stock worth $14,226,000 after purchasing an additional 327,383 shares during the last quarter. Clayton Partners LLC acquired a new position in Fennec Pharmaceuticals in the fourth quarter valued at $256,000. Finally, Nuveen LLC purchased a new stake in shares of Fennec Pharmaceuticals in the first quarter valued at about $158,000. Institutional investors and hedge funds own 55.51% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. HC Wainwright reaffirmed a "buy" rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a report on Tuesday, May 20th. Craig Hallum boosted their target price on Fennec Pharmaceuticals from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Wedbush reiterated an "outperform" rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Monday, March 10th.

About Fennec Pharmaceuticals

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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