Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov Sells 2,431 Shares

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Rosty Raykov sold 2,431 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $4.94, for a total transaction of $12,009.14. Following the transaction, the director now directly owns 66,432 shares of the company’s stock, valued at approximately $328,174.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, August 1st, Rosty Raykov sold 2,431 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $6.25, for a total transaction of $15,193.75.

Fennec Pharmaceuticals Stock Down 3.6 %

Shares of NASDAQ FENC traded down $0.18 during mid-day trading on Tuesday, hitting $4.82. 67,926 shares of the stock traded hands, compared to its average volume of 117,215. The stock has a fifty day moving average price of $5.64 and a 200-day moving average price of $7.31. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.75 and a current ratio of 8.02. The company has a market cap of $131.72 million, a price-to-earnings ratio of 162.67 and a beta of 0.26. Fennec Pharmaceuticals Inc has a 52 week low of $4.76 and a 52 week high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $7.26 million during the quarter, compared to analysts’ expectations of $13.67 million. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. Research analysts anticipate that Fennec Pharmaceuticals Inc will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FENC shares. HC Wainwright lowered their price target on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Craig Hallum cut their price target on shares of Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Finally, Wedbush restated an “outperform” rating and issued a $14.00 target price (down previously from $16.00) on shares of Fennec Pharmaceuticals in a report on Tuesday, August 13th.

Hedge Funds Weigh In On Fennec Pharmaceuticals

A number of hedge funds have recently bought and sold shares of FENC. Acadian Asset Management LLC bought a new stake in shares of Fennec Pharmaceuticals in the second quarter worth approximately $49,000. Rhumbline Advisers lifted its position in Fennec Pharmaceuticals by 44.7% during the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after purchasing an additional 8,987 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Fennec Pharmaceuticals in the second quarter worth approximately $69,000. BNP Paribas Financial Markets grew its position in Fennec Pharmaceuticals by 67.7% in 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. Finally, Gendell Jeffrey L raised its stake in Fennec Pharmaceuticals by 7.1% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Fennec Pharmaceuticals 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.