Fennec Pharmaceuticals (TSE:FRX) Reaches New 1-Year High – Here’s Why

Fennec Pharmaceuticals Inc. (TSE:FRX)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as C$15.60 and last traded at C$15.60, with a volume of 175 shares changing hands. The stock had previously closed at C$14.88.

Fennec Pharmaceuticals Price Performance

The firm has a fifty day simple moving average of C$14.06 and a two-hundred day simple moving average of C$11.71. The firm has a market capitalization of C$556.49 million, a P/E ratio of -55.24 and a beta of 3.55.

Insider Activity

In related news, Director Rostislav Christov Raykov sold 9,747 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of C$13.23, for a total value of C$128,952.81. Following the sale, the director directly owned 2,746,104 shares in the company, valued at approximately C$36,330,955.92. The trade was a 0.35% decrease in their position. Also, Director Chris Anigeron Rallis sold 8,346 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$9.67, for a total transaction of C$80,705.82. Following the sale, the director directly owned 61,314 shares in the company, valued at approximately C$592,906.38. This trade represents a 11.98% decrease in their ownership of the stock. Company insiders own 16.20% of the company’s stock.

Institutional Trading of Fennec Pharmaceuticals

A hedge fund recently bought a new stake in Fennec Pharmaceuticals stock. Cornerstone Capital Inc. purchased a new stake in shares of Fennec Pharmaceuticals Inc. (TSE:FRX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 105,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,129,000. Cornerstone Capital Inc. owned approximately 0.30% of Fennec Pharmaceuticals at the end of the most recent quarter. 14.40% 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.