Fennec Pharmaceuticals Inc (NASDAQ:FENC) COO Sells $228,886.60 in Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) COO Adrian Haigh sold 22,222 shares of Fennec Pharmaceuticals stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $10.30, for a total value of $228,886.60. Following the completion of the sale, the chief operating officer now directly owns 22,222 shares in the company, valued at approximately $228,886.60. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Adrian Haigh also recently made the following trade(s):

• On Wednesday, April 17th, Adrian Haigh sold 22,222 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $9.91, for a total value of $220,220.02.

Fennec Pharmaceuticals Trading Down 1.3 %

Shares of Fennec Pharmaceuticals stock opened at $9.57 on Friday. The company has a fifty day moving average price of $10.10 and a 200 day moving average price of $9.33. Fennec Pharmaceuticals Inc has a twelve month low of $6.30 and a twelve month high of $11.92. The stock has a market cap of $259.35 million, a price-to-earnings ratio of -15.69 and a beta of 0.38.

Fennec Pharmaceuticals (NASDAQ:FENC) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.12). The company had revenue of $9.74 million for the quarter, compared to analysts’ expectations of $9.47 million. Analysts forecast that Fennec Pharmaceuticals Inc will post 0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FENC. Craig Hallum boosted their price target on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Wedbush restated an “outperform” rating and set a $16.00 price objective on shares of Fennec Pharmaceuticals in a report on Monday, March 18th. Finally, HC Wainwright upped their price objective on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, April 4th.

Institutional Trading of Fennec Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Sonic GP LLC purchased a new position in Fennec Pharmaceuticals in the 4th quarter valued at about $23,111,000. Vanguard Group Inc. boosted its position in Fennec Pharmaceuticals by 1,294.3% in 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 last quarter. BlackRock Inc. boosted its position in Fennec Pharmaceuticals by 1,507.6% in the 2nd quarter. BlackRock Inc. now owns 830,119 shares of the company’s stock valued at $7,330,000 after buying an additional 778,481 shares during the last quarter. AIGH Capital Management LLC boosted its position in Fennec Pharmaceuticals by 6.9% in the 3rd quarter. AIGH Capital Management LLC now owns 373,526 shares of the company’s stock valued at $2,805,000 after buying an additional 24,069 shares during the last quarter. Finally, Gendell Jeffrey L boosted its position in Fennec Pharmaceuticals by 0.9% in the 3rd quarter. Gendell Jeffrey L now owns 285,992 shares of the company’s stock valued at $2,148,000 after buying an additional 2,579 shares during the last quarter. 55.51% of the stock is owned by hedge funds and other institutional investors.

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.