Fennec Pharmaceuticals Inc (NASDAQ:FENC) Short Interest Update

Fennec Pharmaceuticals Inc (NASDAQ:FENC) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 1,810,000 shares, a growth of 7.1% from the March 15th total of 1,690,000 shares. Currently, 9.1% of the shares of the stock are short sold. Based on an average trading volume of 110,600 shares, the days-to-cover ratio is presently 16.4 days.

Fennec Pharmaceuticals Price Performance

NASDAQ FENC opened at $10.33 on Tuesday. The firm has a market capitalization of $279.99 million, a P/E ratio of -16.93 and a beta of 0.38. Fennec Pharmaceuticals has a 1-year low of $6.30 and a 1-year high of $11.92. The business’s 50-day simple moving average is $10.10 and its 200-day simple moving average is $9.31.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its quarterly earnings data on Thursday, March 21st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.12). The firm had revenue of $9.74 million during the quarter, compared to analyst estimates of $9.47 million. On average, equities research analysts expect that Fennec Pharmaceuticals will post 0.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on FENC. Craig Hallum increased their price objective on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Wedbush reissued an “outperform” rating and issued a $16.00 price target on shares of Fennec Pharmaceuticals in a research note on Monday, March 18th. Finally, HC Wainwright raised their price target on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th.

Insiders Place Their Bets

In other Fennec Pharmaceuticals news, CFO Robert Andrade sold 13,975 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $11.00, for a total value of $153,725.00. Following the completion of the transaction, the chief financial officer now owns 105,746 shares in the company, valued at $1,163,206. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Rosty Raykov sold 40,584 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $10.78, for a total value of $437,495.52. Following the completion of the transaction, the chief executive officer now owns 276,054 shares in the company, valued at $2,975,862.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Robert Andrade sold 13,975 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $11.00, for a total value of $153,725.00. Following the completion of the transaction, the chief financial officer now owns 105,746 shares of the company’s stock, valued at approximately $1,163,206. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,773 shares of company stock worth $1,098,996. 11.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fennec Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of FENC. Vanguard Group Inc. raised its holdings in shares of Fennec Pharmaceuticals by 1,294.3% during the 4th quarter. Vanguard Group Inc. now owns 1,140,063 shares of the company’s stock valued at $12,792,000 after buying an additional 1,058,295 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Fennec Pharmaceuticals by 78.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 31,000 shares of the company’s stock valued at $348,000 after buying an additional 13,664 shares during the period. Barclays PLC raised its holdings in shares of Fennec Pharmaceuticals by 624.7% during the 4th quarter. Barclays PLC now owns 25,075 shares of the company’s stock valued at $282,000 after buying an additional 21,615 shares during the period. Royal Bank of Canada raised its holdings in shares of Fennec Pharmaceuticals by 21.1% during the 4th quarter. Royal Bank of Canada now owns 7,102 shares of the company’s stock valued at $79,000 after buying an additional 1,236 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Fennec Pharmaceuticals by 107.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company’s stock valued at $34,000 after buying an additional 1,578 shares during the period. 55.51% of the stock is owned by institutional investors and hedge funds.

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.