Insider Selling: Adherex Technologies (NASDAQ:FENC) CFO Sells $883,500.00 in Stock

Adherex Technologies Inc. (NASDAQ:FENC) CFO Robert Andrade sold 75,000 shares of Adherex Technologies stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $11.78, for a total transaction of $883,500.00. Following the sale, the chief financial officer directly owned 217,675 shares of the company’s stock, valued at $2,564,211.50. This represents a 25.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Adherex Technologies Price Performance

FENC stock opened at $12.27 on Monday. The business’s fifty day moving average is $10.81 and its 200-day moving average is $8.91. The company has a market cap of $430.19 million, a P/E ratio of -94.38 and a beta of 1.09. Adherex Technologies Inc. has a twelve month low of $5.65 and a twelve month high of $13.25.

Adherex Technologies (NASDAQ:FENC) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Adherex Technologies had a negative return on equity of 5.71% and a negative net margin of 6.09%.The business had revenue of $17.87 million during the quarter, compared to analysts’ expectations of $16.21 million. Research analysts anticipate that Adherex Technologies Inc. will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on FENC shares. B. Riley Financial reaffirmed a “buy” rating and issued a $18.00 price target (up from $16.00) on shares of Adherex Technologies in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of Adherex Technologies from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 16th. Wedbush upped their target price on shares of Adherex Technologies from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. HC Wainwright upped their target price on shares of Adherex Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, Zacks Research upgraded shares of Adherex Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.00.

Institutional Investors Weigh In On Adherex Technologies

A hedge fund recently bought a new stake in Adherex Technologies stock. AQR Capital Management LLC purchased a new position in shares of Adherex Technologies Inc. (NASDAQ:FENC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,897 shares of the company’s stock, valued at approximately $66,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

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. The company was formerly known as Adherex Technologies Inc and changed its name to Fennec Pharmaceuticals Inc in September 2014. Fennec Pharmaceuticals Inc was founded in 1996 and is based in Research Triangle Park, North Carolina.