Adherex Technologies (NASDAQ:FENC) Director Rosty Raykov Sells 10,349 Shares

Adherex Technologies Inc. (NASDAQ:FENC) Director Rosty Raykov sold 10,349 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $7.76, for a total transaction of $80,308.24. Following the transaction, the director directly owned 98,477 shares of the company’s stock, valued at $764,181.52. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, December 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $7.54, for a total transaction of $75,400.00.
• On Wednesday, November 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $8.10, for a total value of $81,000.00.

Adherex Technologies Stock Up 3.2%

FENC stock opened at $7.83 on Tuesday. Adherex Technologies Inc. has a twelve month low of $4.68 and a twelve month high of $9.92. The firm has a market capitalization of $267.47 million, a PE ratio of -34.04 and a beta of 0.77. The stock has a 50-day simple moving average of $7.66 and a two-hundred day simple moving average of $8.27.

Adherex Technologies (NASDAQ:FENC) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.06. The firm had revenue of $12.46 million during the quarter, compared to the consensus estimate of $13.43 million. On average, equities research analysts anticipate that Adherex Technologies Inc. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Adherex Technologies

A hedge fund recently bought a new stake in Adherex Technologies stock. Jane Street Group LLC acquired a new position in Adherex Technologies Inc. (NASDAQ:FENC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned about 0.05% of Adherex Technologies at the end of the most recent reporting period. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Analyst Upgrades and Downgrades

FENC has been the subject of a number of research analyst reports. Wall Street Zen lowered Adherex Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Zacks Research upgraded shares of Adherex Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Piper Sandler started coverage on Adherex Technologies in a research note on Friday, January 9th. They set an “overweight” rating and a $18.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Adherex Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Adherex Technologies 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. The company was formerly known as Adherex Technologies Inc and changed its name to Fennec Pharmaceuticals Inc in September 2014. Fennec Pharmaceuticals Inc was founded in 1996 and is based in Research Triangle Park, North Carolina.