Fennec Pharmaceuticals (TSE:FRX) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Fennec Pharmaceuticals Inc. (TSE:FRX)’s stock price crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of C$15.89 and traded as low as C$14.47. Fennec Pharmaceuticals shares last traded at C$14.47, with a volume of 102 shares.

Fennec Pharmaceuticals Stock Down 0.1%

The firm’s 50 day simple moving average is C$15.89 and its 200-day simple moving average is C$13.49. The company has a market capitalization of C$507.42 million, a PE ratio of -120.58 and a beta of 3.82.

Insider Activity at Fennec Pharmaceuticals

In other Fennec Pharmaceuticals news, insider Robert Christopher Andrade sold 106,844 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of C$16.63, for a total value of C$1,776,815.72. Following the completion of the sale, the insider owned 217,675 shares of the company’s stock, valued at C$3,619,935.25. This trade represents a 32.92% decrease in their ownership of the stock. Also, insider Pierre Sayad sold 12,000 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of C$17.18, for a total transaction of C$206,160.00. Following the sale, the insider directly owned 9,519 shares of the company’s stock, valued at approximately C$163,536.42. The trade was a 55.76% decrease in their ownership of the stock. 16.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fennec Pharmaceuticals

An institutional investor recently bought a new stake in Fennec Pharmaceuticals stock. Cornerstone Capital Inc. acquired a new stake in Fennec Pharmaceuticals Inc. (TSE:FRX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 105,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,129,000. Cornerstone Capital Inc. owned about 0.30% of Fennec Pharmaceuticals as of its most recent SEC filing. 15.64% of the stock is currently owned by institutional investors.

Fennec Pharmaceuticals Company Profile

Fennec Pharmaceuticals Inc is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom ( U.K. ) approval in October 2023 under the brand name PEDMARQSI®. In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, with rights to commercialize PEDMARQSI® in Europe, U.K., Australia and New Zealand.