Rosty Raykov Sells 10,000 Shares of Adherex Technologies Inc. (NASDAQ:FENC) Stock

Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) Director Rosty Raykov sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $8.61, for a total value of $86,100.00. Following the sale, the director directly owned 60,670 shares of the company's stock, valued at $522,368.70. The trade was a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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 stock was sold at an average price of $6.31, for a total value of $63,100.00.

Adherex Technologies Trading Down 3.8%

Shares of FENC traded down $0.33 during mid-day trading on Monday, hitting $8.47. The company's stock had a trading volume of 72,349 shares, compared to its average volume of 92,648. Adherex Technologies Inc. has a 1-year low of $3.96 and a 1-year high of $8.88. The firm has a market capitalization of $233.77 million, a P/E ratio of -16.61 and a beta of 0.39. The firm has a 50-day simple moving average of $7.56 and a 200 day simple moving average of $6.63.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.08. The business had revenue of $8.51 million during the quarter, compared to analysts' expectations of $8.18 million. During the same quarter in the previous year, the company posted $0.41 EPS. As a group, sell-side analysts predict that Adherex Technologies Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $13.00 price objective on shares of Adherex Technologies in a research report on Tuesday, May 20th. Wedbush restated an "outperform" rating and issued a $13.00 target price on shares of Adherex Technologies in a research note on Monday, March 10th. Finally, Craig Hallum boosted their price target on shares of Adherex Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th.

Hedge Funds Weigh In On Adherex Technologies

A number of large investors have recently made changes to their positions in FENC. Wells Fargo & Company MN lifted its stake in shares of Adherex Technologies by 31.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,152 shares of the company's stock valued at $83,000 after purchasing an additional 3,155 shares during the period. Geode Capital Management LLC increased its holdings in Adherex Technologies by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 303,090 shares of the company's stock valued at $1,916,000 after buying an additional 3,792 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Adherex Technologies by 12.9% during the 4th quarter. Rhumbline Advisers now owns 34,299 shares of the company's stock valued at $217,000 after acquiring an additional 3,911 shares during the period. Barclays PLC lifted its position in shares of Adherex Technologies by 13.9% during the 4th quarter. Barclays PLC now owns 35,672 shares of the company's stock valued at $225,000 after acquiring an additional 4,353 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Adherex Technologies by 11.5% during the 4th quarter. BNP Paribas Financial Markets now owns 44,626 shares of the company's stock worth $282,000 after acquiring an additional 4,610 shares in the last quarter. Hedge funds and other institutional investors own 55.51% of the company's stock.

Adherex Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.