Insider Selling: Fennec Pharmaceuticals Inc (NASDAQ:FENC) COO Sells $228,886.60 in Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) COO Adrian Haigh sold 22,222 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $10.30, for a total value of $228,886.60. Following the sale, the chief operating officer now owns 22,222 shares in the company, valued at $228,886.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Adrian Haigh also recently made the following trade(s):

• On Wednesday, April 17th, Adrian Haigh sold 22,222 shares of Fennec Pharmaceuticals stock. The stock was sold at an average price of $9.91, for a total value of $220,220.02.

Fennec Pharmaceuticals Price Performance

FENC opened at $9.34 on Friday. Fennec Pharmaceuticals Inc has a 12 month low of $6.30 and a 12 month high of $11.92. The stock has a market cap of $253.11 million, a P/E ratio of -15.31 and a beta of 0.38. The stock’s 50 day moving average price is $10.09 and its 200 day moving average price is $9.33.

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

Hedge Funds Weigh In On Fennec Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of Fennec Pharmaceuticals by 21.1% during the 4th quarter. Royal Bank of Canada now owns 7,102 shares of the company’s stock valued at $79,000 after purchasing an additional 1,236 shares during the period. Tower Research Capital LLC TRC increased 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 valued at $34,000 after purchasing an additional 1,578 shares during the period. Citigroup Inc. increased its position in shares of Fennec Pharmaceuticals by 10.3% during the 1st quarter. Citigroup Inc. now owns 18,590 shares of the company’s stock valued at $151,000 after purchasing an additional 1,742 shares during the period. Vanguard Group Inc. increased its position in shares of Fennec Pharmaceuticals by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 81,768 shares of the company’s stock valued at $614,000 after purchasing an additional 1,895 shares during the period. Finally, Hartford Financial Management Inc. increased its position in shares of Fennec Pharmaceuticals by 4.4% during the 4th quarter. Hartford Financial Management Inc. now owns 47,348 shares of the company’s stock valued at $531,000 after purchasing an additional 2,000 shares during the period. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

About Fennec Pharmaceuticals

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.