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

Key Points

• Director Rosty Raykov sold 10,000 shares of Adherex Technologies stock on October 6th for a total value of $97,800, reducing his holdings by 10.81%.
• The company's stock performance showed a recent drop to $9.74, with a market capitalization of $271.84 million and a negative earnings per share of -$0.11.
• Adherex Technologies has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a price target averaging $13.33.

Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) Director Rosty Raykov sold 10,000 shares of the firm's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $9.78, for a total value of $97,800.00. Following the sale, the director directly owned 82,501 shares in the company, valued at approximately $806,859.78. The trade was a 10.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, August 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $8.09, for a total value of $80,900.00.

Adherex Technologies Stock Performance

FENC stock traded down $0.14 during trading on Monday, reaching $9.74. 83,931 shares of the company traded hands, compared to its average volume of 77,889. Adherex Technologies Inc. has a 12 month low of $3.96 and a 12 month high of $9.92. The business has a 50 day simple moving average of $8.72 and a 200 day simple moving average of $7.70. The company has a market capitalization of $271.84 million, a price-to-earnings ratio of -23.19 and a beta of 0.64.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.05). The company had revenue of $9.76 million during the quarter, compared to the consensus estimate of $9.52 million. As a group, research analysts forecast that Adherex Technologies Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

FENC has been the subject of several recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Adherex Technologies in a report on Saturday, September 27th. Craig Hallum raised their price target on Adherex Technologies from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Zacks Research downgraded Adherex Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. HC Wainwright reissued a "buy" rating and issued a $13.00 price target on shares of Adherex Technologies in a report on Thursday, August 21st. Finally, Wall Street Zen upgraded Adherex Technologies from a "hold" rating to a "buy" rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.33.

Institutional Investors Weigh In On Adherex Technologies

Several hedge funds have recently made changes to their positions in FENC. AQR Capital Management LLC acquired a new position in Adherex Technologies in the first quarter valued at $66,000. Jane Street Group LLC acquired a new position in Adherex Technologies in the first quarter valued at $90,000. Nuveen LLC acquired a new position in Adherex Technologies in the first quarter valued at $158,000. Bank of America Corp DE boosted its holdings in Adherex Technologies by 32.1% in the fourth quarter. Bank of America Corp DE now owns 35,827 shares of the company's stock valued at $226,000 after acquiring an additional 8,703 shares during the last quarter. Finally, AIGH Capital Management LLC acquired a new position in Adherex Technologies in the first quarter valued at $2,199,000. Institutional investors and hedge funds own 55.51% of the company's stock.

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.

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