Rhumbline Advisers Grows Stock Holdings in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

Rhumbline Advisers raised its position in Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 44.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 29,110 shares of the company’s stock after acquiring an additional 8,987 shares during the period. Rhumbline Advisers owned approximately 0.11% of Fennec Pharmaceuticals worth $178,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gendell Jeffrey L boosted its stake in shares of Fennec Pharmaceuticals by 7.1% in the first quarter. Gendell Jeffrey L now owns 302,478 shares of the company’s stock valued at $3,364,000 after buying an additional 20,000 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in Fennec Pharmaceuticals during the 1st quarter valued at $1,604,000. Bank of New York Mellon Corp increased its position in Fennec Pharmaceuticals by 42.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after purchasing an additional 20,602 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Fennec Pharmaceuticals by 71,275.0% in the first quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock valued at $381,000 after buying an additional 34,212 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Fennec Pharmaceuticals by 67.7% during the 1st quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company’s stock worth $364,000 after purchasing an additional 13,223 shares during the period. Institutional investors and hedge funds own 55.51% of the company’s stock.

Fennec Pharmaceuticals Stock Up 1.2 %

NASDAQ:FENC opened at $5.20 on Monday. The company has a current ratio of 8.02, a quick ratio of 7.75 and a debt-to-equity ratio of 9.86. The stock has a 50 day moving average of $5.67 and a 200-day moving average of $7.37. The firm has a market capitalization of $142.11 million, a PE ratio of 173.33 and a beta of 0.26. Fennec Pharmaceuticals Inc has a 52 week low of $4.77 and a 52 week high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). The company had revenue of $7.26 million for the quarter, compared to the consensus estimate of $13.67 million. Fennec Pharmaceuticals had a negative return on equity of 53.38% and a net margin of 5.59%. During the same quarter in the previous year, the company earned ($0.21) earnings per share. Analysts predict that Fennec Pharmaceuticals Inc will post -0.07 EPS for the current year.

Analyst Ratings Changes

FENC has been the topic of a number of research analyst reports. Craig Hallum decreased their price target on shares of Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Wedbush restated an “outperform” rating and set a $14.00 price objective (down from $16.00) on shares of Fennec Pharmaceuticals in a research note on Tuesday, August 13th. Finally, HC Wainwright lowered their target price on shares of Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd.

Fennec Pharmaceuticals 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.