Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Chris A. Rallis Sells 6,409 Shares

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Chris A. Rallis sold 6,409 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.14, for a total value of $39,351.26. Following the completion of the transaction, the director now directly owns 52,214 shares in the company, valued at approximately $320,593.96. This represents a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Fennec Pharmaceuticals Price Performance

Shares of FENC traded up $0.18 during trading hours on Monday, hitting $6.24. 320,354 shares of the company were exchanged, compared to its average volume of 118,576. The company has a market cap of $171.16 million, a price-to-earnings ratio of -60.59 and a beta of 0.27. Fennec Pharmaceuticals Inc has a fifty-two week low of $3.96 and a fifty-two week high of $11.92. The company has a quick ratio of 7.64, a current ratio of 7.80 and a debt-to-equity ratio of 9.86. The firm’s fifty day moving average is $4.72 and its 200 day moving average is $5.66.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th. Craig Hallum reduced their target price on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. HC Wainwright reduced their target price on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Wedbush reissued an “outperform” rating and set a $13.00 target price (down from $14.00) on shares of Fennec Pharmaceuticals in a report on Thursday, November 7th.

Institutional Trading of Fennec Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of FENC. Bank of New York Mellon Corp lifted its position in shares of Fennec Pharmaceuticals by 42.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after buying an additional 20,602 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Fennec Pharmaceuticals by 44.7% during the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock worth $178,000 after buying an additional 8,987 shares during the last quarter. Acadian Asset Management LLC bought a new position in Fennec Pharmaceuticals in the second quarter valued at about $49,000. WINTON GROUP Ltd bought a new position in Fennec Pharmaceuticals in the second quarter valued at about $409,000. Finally, The Manufacturers Life Insurance Company bought a new position in Fennec Pharmaceuticals in the second quarter valued at about $69,000. 55.51% of the stock is currently owned by institutional investors.

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.