Adherex Technologies Inc. (NASDAQ:FENC) Director Sells $86,100.00 in Stock

Adherex Technologies 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, July 3rd. The shares were sold at an average price of $8.61, for a total value of $86,100.00. Following the completion of the sale, the director directly owned 60,670 shares of the company's stock, valued at approximately $522,368.70. The trade was a 14.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, June 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $7.78, for a total value of $77,800.00.
• On Monday, May 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $6.31, for a total value of $63,100.00.

Adherex Technologies Trading Up 1.7%

Adherex Technologies stock traded up $0.15 during trading hours on Thursday, reaching $9.04. 123,640 shares of the company were exchanged, compared to its average volume of 92,550. The firm has a market cap of $249.50 million, a price-to-earnings ratio of -17.73 and a beta of 0.39. The stock has a 50-day moving average of $7.72 and a 200 day moving average of $6.68. Adherex Technologies Inc. has a 12 month low of $3.96 and a 12 month high of $9.12.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.08. The company had revenue of $8.51 million for the quarter, compared to the consensus estimate of $8.18 million. During the same period in the previous year, the company earned $0.41 EPS. As a group, research analysts forecast that Adherex Technologies Inc. will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in shares of Adherex Technologies in the first quarter valued at $90,000. AQR Capital Management LLC acquired a new position in Adherex Technologies during the first quarter worth $66,000. Nuveen LLC acquired a new position in Adherex Technologies during the first quarter worth $158,000. AIGH Capital Management LLC acquired a new position in Adherex Technologies during the first quarter worth $2,199,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in Adherex Technologies during the fourth quarter worth $97,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FENC has been the subject of several recent research reports. HC Wainwright reissued a "buy" rating and issued a $13.00 price target on shares of Adherex Technologies in a research note on Tuesday, May 20th. Craig Hallum boosted their price target on Adherex Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th.

About Adherex Technologies

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.