Short Interest in Fennec Pharmaceuticals Inc (NASDAQ:FENC) Rises By 5.1%

Fennec Pharmaceuticals Inc (NASDAQ:FENC) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,870,000 shares, a growth of 5.1% from the October 31st total of 1,780,000 shares. Based on an average daily trading volume, of 104,500 shares, the days-to-cover ratio is currently 17.9 days. Currently, 8.1% of the company’s shares are short sold.

Fennec Pharmaceuticals Stock Performance

Shares of NASDAQ:FENC traded down $0.01 during trading on Tuesday, hitting $6.23. 314,932 shares of the company were exchanged, compared to its average volume of 119,419. The stock has a 50 day moving average of $4.75 and a 200 day moving average of $5.66. Fennec Pharmaceuticals has a 52-week low of $3.96 and a 52-week high of $11.92. The company has a current ratio of 7.80, a quick ratio of 7.64 and a debt-to-equity ratio of 9.86.

Insider Buying and Selling at Fennec Pharmaceuticals

In other Fennec Pharmaceuticals news, Director Chris A. Rallis sold 6,409 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.14, for a total value of $39,351.26. Following the completion of the sale, the director now directly owns 52,214 shares in the company, valued at $320,593.96. This represents a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 12,677 shares of company stock valued at $68,207. 10.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fennec Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd purchased a new position in Fennec Pharmaceuticals during the 2nd quarter valued at about $409,000. Advantage Alpha Capital Partners LP purchased a new position in Fennec Pharmaceuticals in the third quarter worth about $264,000. Barclays PLC raised its holdings in Fennec Pharmaceuticals by 274.3% in the third quarter. Barclays PLC now owns 31,319 shares of the company’s stock worth $157,000 after buying an additional 22,951 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Fennec Pharmaceuticals by 42.8% in the second 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. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Fennec Pharmaceuticals during the second quarter valued at approximately $69,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on FENC shares. Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. HC Wainwright decreased their price target on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Wedbush reaffirmed 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. Finally, Craig Hallum dropped their price objective on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th.

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.