Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) CEO Sells $22,146.41 in Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) CEO Rosty Raykov sold 2,431 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $9.11, for a total value of $22,146.41. Following the completion of the sale, the chief executive officer now owns 187,471 shares in the company, valued at $1,707,860.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, April 5th, Rosty Raykov sold 44,300 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $10.75, for a total value of $476,225.00.
• On Wednesday, April 3rd, Rosty Raykov sold 40,584 shares of Fennec Pharmaceuticals stock. The shares were sold at an average price of $10.78, for a total value of $437,495.52.

Fennec Pharmaceuticals Stock Up 1.5 %

FENC stock opened at $9.23 on Friday. The company has a market cap of $252.16 million, a price-to-earnings ratio of -15.13 and a beta of 0.45. Fennec Pharmaceuticals Inc has a twelve month low of $6.30 and a twelve month high of $11.92. The business has a 50 day moving average price of $10.07 and a two-hundred day moving average price of $9.52.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its earnings results 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 company had revenue of $9.74 million for the quarter, compared to analyst estimates of $9.47 million. On average, equities research analysts anticipate that Fennec Pharmaceuticals Inc will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FENC. AIGH Capital Management LLC raised its holdings in shares of 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 purchasing an additional 24,069 shares during the period. Gendell Jeffrey L lifted its position in shares of Fennec Pharmaceuticals by 0.9% in the third 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. Essex Investment Management Co. LLC bought a new position in shares of Fennec Pharmaceuticals during the 1st quarter worth approximately $1,604,000. Worth Venture Partners LLC increased its holdings in shares of Fennec Pharmaceuticals by 52.7% during the 4th quarter. Worth Venture Partners LLC now owns 141,500 shares of the company’s stock worth $1,588,000 after acquiring an additional 48,864 shares during the last quarter. Finally, Hartford Financial Management Inc. raised its stake in Fennec Pharmaceuticals by 4.4% in the 4th quarter. Hartford Financial Management Inc. now owns 47,348 shares of the company’s stock valued at $531,000 after acquiring an additional 2,000 shares during the period. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.