Rosty Raykov Sells 10,000 Shares of Adherex Technologies (NASDAQ:FENC) Stock

Adherex Technologies Inc. (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of Adherex Technologies stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $9.78, for a total transaction of $97,800.00. Following the transaction, the director directly owned 82,501 shares in the company, valued at $806,859.78. This trade represents a 10.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rosty Raykov also recently made the following trade(s):

• On Tuesday, August 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The stock was sold at an average price of $8.09, for a total transaction of $80,900.00.

Adherex Technologies Stock Down 2.7%

Shares of NASDAQ FENC opened at $9.48 on Wednesday. Adherex Technologies Inc. has a 52 week low of $3.96 and a 52 week high of $9.92. The firm’s fifty day moving average is $8.76 and its 200 day moving average is $7.73. The company has a market cap of $264.59 million, a price-to-earnings ratio of -22.57 and a beta of 0.64.

Adherex Technologies (NASDAQ:FENC) last issued its earnings results on Thursday, August 14th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The company had revenue of $9.76 million for the quarter, compared to the consensus estimate of $9.52 million. Equities research analysts anticipate that Adherex Technologies Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FENC shares. Wall Street Zen raised shares of Adherex Technologies from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Adherex Technologies in a research note on Thursday, August 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adherex Technologies in a research note on Saturday, September 27th. Zacks Research downgraded shares of Adherex Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Finally, Craig Hallum boosted their price objective on shares of Adherex Technologies from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.33.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FENC. AIGH Capital Management LLC purchased a new position in Adherex Technologies during the 1st quarter valued at $2,199,000. Nuveen LLC purchased a new position in Adherex Technologies during the 1st quarter valued at $158,000. Jane Street Group LLC bought a new stake in shares of Adherex Technologies during the 1st quarter valued at $90,000. AQR Capital Management LLC purchased a new stake in shares of Adherex Technologies in the 1st quarter worth about $66,000. Finally, Bank of America Corp DE grew its position in shares of Adherex Technologies by 32.1% in the 4th quarter. Bank of America Corp DE now owns 35,827 shares of the company’s stock worth $226,000 after buying an additional 8,703 shares during the period. 55.51% of the stock is owned by hedge funds and other institutional investors.

About Adherex Technologies

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.