Fennec Pharmaceuticals (TSE:FRX) Shares Pass Above Fifty Day Moving Average – Time to Sell?

Fennec Pharmaceuticals Inc. (TSE:FRX)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$13.17 and traded as high as C$15.00. Fennec Pharmaceuticals shares last traded at C$14.79, with a volume of 286 shares changing hands.

Fennec Pharmaceuticals Stock Up 2.0%

The firm has a fifty day moving average of C$13.17 and a 200-day moving average of C$11.20. The firm has a market cap of C$513.76 million, a P/E ratio of -51.00 and a beta of 3.52.

Insider Activity at Fennec Pharmaceuticals

In related news, Director Rostislav Christov Raykov purchased 15,597 shares of the stock in a transaction on Monday, June 1st. The shares were purchased at an average price of C$3.37 per share, with a total value of C$52,561.89. Following the transaction, the director directly owned 2,755,851 shares of the company’s stock, valued at C$9,287,217.87. This trade represents a 0.57% increase in their ownership of the stock. Also, Director Chris Anigeron Rallis acquired 14,344 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of C$3.35 per share, for a total transaction of C$48,052.40. Following the purchase, the director owned 69,660 shares in the company, valued at approximately C$233,361. This represents a 25.93% increase in their ownership of the stock. 16.20% of the stock is owned by insiders.

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.