Fennec Pharmaceuticals (TSE:FRX) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Shares of Fennec Pharmaceuticals Inc. (TSE:FRX) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$11.15 and traded as low as C$10.42. Fennec Pharmaceuticals shares last traded at C$10.60, with a volume of 1,010 shares.

Fennec Pharmaceuticals Stock Performance

The company has a quick ratio of 10.17, a current ratio of 7.80 and a debt-to-equity ratio of -620.83. The stock has a market capitalization of C$362.02 million, a P/E ratio of -40.77 and a beta of 2.51. The business has a fifty day moving average price of C$11.15 and a 200-day moving average price of C$11.65.

Insider Activity at Fennec Pharmaceuticals

In other news, insider Southpoint Capital Advisors Lp sold 85,918 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of C$12.35, for a total transaction of C$1,061,087.30. Following the completion of the transaction, the insider directly owned 3,764,082 shares of the company’s stock, valued at C$46,486,412.70. The trade was a 2.23% decrease in their ownership of the stock. Insiders have sold 314,907 shares of company stock valued at $3,761,017 in the last three months. Insiders own 16.20% of the company’s stock.

Fennec Pharmaceuticals Company Profile

Fennec Pharmaceuticals Inc is a clinical-stage biotechnology company. It is primarily engaged in research and development activities. The company is developing Sodium Thiosulfate (STS), a chemo-protectant against hearing loss associated with platinum-based chemotherapy. Its lead product candidate is PEDMARK which is sodium thiosulfate in a novel formulation for the prevention of cisplatin induced hearing loss, or ototoxicity in children.