Fennec Pharmaceuticals (TSE:FRX) Stock Passes Below 50-Day Moving Average – Should You Sell?

Fennec Pharmaceuticals Inc. (TSE:FRX)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$10.66 and traded as low as C$8.70. Fennec Pharmaceuticals shares last traded at C$8.70, with a volume of 169 shares.

Wall Street Analyst Weigh In

Separately, B. Riley Financial raised Fennec Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Fennec Pharmaceuticals Price Performance

The stock has a market capitalization of C$297.22 million, a P/E ratio of -24.86 and a beta of 3.01. The stock has a fifty day moving average price of C$10.66 and a 200 day moving average price of C$11.21.

Insider Buying and Selling at Fennec Pharmaceuticals

In other news, Director Rostislav Christov Raykov sold 10,349 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of C$10.69, for a total transaction of C$110,630.81. Following the sale, the director directly owned 2,709,294 shares in the company, valued at C$28,962,352.86. This represents a 0.38% decrease in their ownership of the stock. 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.