Adherex Technologies (NASDAQ:FENC) Insider Pierre Sargis Sayad Sells 12,000 Shares of Stock

Adherex Technologies Inc. (NASDAQ:FENC) insider Pierre Sargis Sayad sold 12,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $12.18, for a total transaction of $146,160.00. Following the completion of the sale, the insider owned 9,519 shares of the company’s stock, valued at $115,941.42. This trade represents a 55.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Adherex Technologies Stock Performance

FENC traded up $0.08 on Monday, hitting $12.35. 508,583 shares of the company were exchanged, compared to its average volume of 240,112. Adherex Technologies Inc. has a fifty-two week low of $5.65 and a fifty-two week high of $13.25. The firm has a market capitalization of $432.99 million, a P/E ratio of -95.00 and a beta of 1.09. The business’s fifty day moving average is $10.87 and its 200 day moving average is $8.95.

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

Analyst Upgrades and Downgrades

FENC has been the subject of several recent research reports. Wall Street Zen upgraded Adherex Technologies from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 16th. Zacks Research raised Adherex Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adherex Technologies in a research report on Friday, July 17th. B. Riley Financial reaffirmed a “buy” rating and issued a $18.00 price objective (up from $16.00) on shares of Adherex Technologies in a research report on Wednesday, August 12th. Finally, HC Wainwright lifted their price objective 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. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Adherex Technologies stock. AQR Capital Management LLC bought a new stake in shares of Adherex Technologies Inc. (NASDAQ:FENC) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 10,897 shares of the company’s stock, valued at approximately $66,000. 55.51% of the stock is owned by 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. 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.