Fennec Pharmaceuticals Inc (NASDAQ:FENC) Stock Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 42.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,724 shares of the company’s stock after acquiring an additional 20,602 shares during the quarter. Bank of New York Mellon Corp’s holdings in Fennec Pharmaceuticals were worth $420,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Gendell Jeffrey L boosted its stake in shares of Fennec Pharmaceuticals by 7.1% during the 1st quarter. Gendell Jeffrey L now owns 302,478 shares of the company’s stock worth $3,364,000 after acquiring an additional 20,000 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Fennec Pharmaceuticals by 71,275.0% during the 1st quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock worth $381,000 after acquiring an additional 34,212 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Fennec Pharmaceuticals during the 1st quarter worth $1,604,000. BNP Paribas Financial Markets boosted 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 acquiring an additional 13,223 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Fennec Pharmaceuticals during the 4th quarter worth $158,000. 55.51% of the stock is owned by institutional investors.

Fennec Pharmaceuticals Stock Performance

Shares of Fennec Pharmaceuticals stock opened at $4.94 on Wednesday. The stock has a market cap of $135.00 million, a PE ratio of 164.67 and a beta of 0.26. The business has a fifty day simple moving average of $5.75 and a 200-day simple moving average of $7.45. The company has a quick ratio of 7.75, a current ratio of 8.02 and a debt-to-equity ratio of 9.86. Fennec Pharmaceuticals Inc has a 12 month low of $4.93 and a 12 month high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.26). Fennec Pharmaceuticals had a negative return on equity of 53.38% and a net margin of 5.59%. The business had revenue of $7.26 million during the quarter, compared to analyst estimates of $13.67 million. During the same period last year, the business earned ($0.21) EPS. On average, sell-side analysts anticipate that Fennec Pharmaceuticals Inc will post 0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wedbush reissued 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. HC Wainwright decreased their target price on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Craig Hallum decreased their target price on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th.

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.