Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) COO Sells 22,222 Shares of Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) COO Adrian Haigh sold 22,222 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $10.30, for a total value of $228,886.60. Following the completion of the transaction, the chief operating officer now directly owns 22,222 shares of the company’s stock, valued at approximately $228,886.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fennec Pharmaceuticals Trading Down 4.5 %

NASDAQ:FENC traded down $0.46 during trading hours on Wednesday, reaching $9.80. 198,274 shares of the stock were exchanged, compared to its average volume of 109,367. The firm has a 50 day simple moving average of $10.10 and a 200-day simple moving average of $9.31. Fennec Pharmaceuticals Inc has a 52 week low of $6.30 and a 52 week high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its earnings results on Thursday, March 21st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.12). The business had revenue of $9.74 million during the quarter, compared to the consensus estimate of $9.47 million. On average, analysts predict that Fennec Pharmaceuticals Inc will post 0.11 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on FENC shares. HC Wainwright increased their price target on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Craig Hallum increased their target price on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $16.00 target price on shares of Fennec Pharmaceuticals in a report on Monday, March 18th.

Institutional Trading of Fennec Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG raised its position in shares of Fennec Pharmaceuticals by 4,742.2% during the 3rd quarter. UBS Group AG now owns 3,099 shares of the company’s stock worth $26,000 after purchasing an additional 3,035 shares during the period. Royal Bank of Canada raised its position in shares of Fennec Pharmaceuticals by 650.5% during the 2nd quarter. Royal Bank of Canada now owns 3,182 shares of the company’s stock worth $28,000 after purchasing an additional 2,758 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Fennec Pharmaceuticals by 107.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company’s stock worth $34,000 after purchasing an additional 1,578 shares during the period. BNP Paribas Arbitrage SNC raised its position in shares of Fennec Pharmaceuticals by 2,777.1% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 4,891 shares of the company’s stock worth $43,000 after purchasing an additional 4,721 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Fennec Pharmaceuticals during the 3rd quarter worth approximately $50,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.