Fennec Pharmaceuticals (TSE:FRX) Stock Passes Below Fifty Day Moving Average – Here’s What Happened

Fennec Pharmaceuticals Inc. (TSE:FRX) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$10.50 and traded as low as C$10.32. Fennec Pharmaceuticals shares last traded at C$10.53, with a volume of 213 shares changing hands.

Fennec Pharmaceuticals Trading Down 0.5%

The company has a market cap of C$359.63 million, a price-to-earnings ratio of -40.50 and a beta of 2.97. 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 business’s fifty day simple moving average is C$10.50 and its two-hundred day simple moving average is C$11.43.

Insider Transactions at Fennec Pharmaceuticals

In related news, insider Southpoint Capital Advisors Lp sold 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of C$10.35, for a total transaction of C$10,350,000.00. Following the transaction, the insider owned 2,744,741 shares of the company’s stock, valued at approximately C$28,408,069.35. This represents a 26.70% decrease in their ownership of the stock. In the last 90 days, insiders have sold 1,246,018 shares of company stock valued at $13,210,611. 16.20% of the stock is currently owned by corporate insiders.

About Fennec Pharmaceuticals

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.