Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) COO Sells 22,222 Shares of Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC - Get Free Report) COO Adrian Haigh sold 22,222 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $10.30, for a total value of $228,886.60. Following the completion of the sale, the chief operating officer now directly owns 22,222 shares in the company, valued at $228,886.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Fennec Pharmaceuticals Trading Down 5.5 %

NASDAQ FENC traded down $0.56 on Wednesday, hitting $9.70. 249,137 shares of the company traded hands, compared to its average volume of 110,123. The business's 50 day moving average price is $10.10 and its 200-day moving average price is $9.33. The company has a market capitalization of $262.87 million, a price-to-earnings ratio of -15.90 and a beta of 0.38. Fennec Pharmaceuticals Inc has a 52-week low of $6.30 and a 52-week high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.12). The firm had revenue of $9.74 million during the quarter, compared to analysts' expectations of $9.47 million. As a group, sell-side analysts predict that Fennec Pharmaceuticals Inc will post 0.11 earnings per share for the current year.

Institutional Trading of Fennec Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of FENC. UBS Group AG boosted its holdings in Fennec Pharmaceuticals by 4,742.2% in the 3rd quarter. UBS Group AG now owns 3,099 shares of the company's stock worth $26,000 after buying an additional 3,035 shares during the period. Royal Bank of Canada boosted its stake in shares of Fennec Pharmaceuticals by 650.5% in the second quarter. Royal Bank of Canada now owns 3,182 shares of the company's stock worth $28,000 after acquiring an additional 2,758 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Fennec Pharmaceuticals by 107.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company's stock worth $34,000 after purchasing an additional 1,578 shares in the last quarter. BNP Paribas Arbitrage SNC raised its stake in Fennec Pharmaceuticals by 2,777.1% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 4,891 shares of the company's stock valued at $43,000 after purchasing an additional 4,721 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Fennec Pharmaceuticals in the 3rd quarter worth approximately $50,000. 55.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FENC shares. HC Wainwright boosted their price target on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, April 4th. Craig Hallum raised their target price on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday, March 18th. Finally, Wedbush restated an "outperform" rating and set a $16.00 price target on shares of Fennec Pharmaceuticals in a research note on Monday, March 18th.

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.