Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Sells $23,190.58 in Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) Director Chris A. Rallis sold 2,114 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $10.97, for a total value of $23,190.58. Following the completion of the sale, the director now directly owns 40,920 shares of the company’s stock, valued at approximately $448,892.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Fennec Pharmaceuticals Stock Performance

FENC stock opened at $11.09 on Thursday. Fennec Pharmaceuticals Inc has a twelve month low of $6.30 and a twelve month high of $11.92. The stock’s 50 day moving average is $9.90 and its 200-day moving average is $9.00.

Institutional Trading of Fennec Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. UBS Group AG increased its position in Fennec Pharmaceuticals by 4,742.2% in the third quarter. UBS Group AG now owns 3,099 shares of the company’s stock worth $26,000 after buying an additional 3,035 shares during the last quarter. Royal Bank of Canada increased its position in Fennec Pharmaceuticals by 650.5% in the second quarter. Royal Bank of Canada now owns 3,182 shares of the company’s stock worth $28,000 after buying an additional 2,758 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Fennec Pharmaceuticals by 107.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company’s stock worth $34,000 after buying an additional 1,578 shares during the last quarter. BNP Paribas Arbitrage SNC increased its position in Fennec Pharmaceuticals by 2,777.1% in the second quarter. BNP Paribas Arbitrage SNC now owns 4,891 shares of the company’s stock worth $43,000 after buying an additional 4,721 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Fennec Pharmaceuticals in the third quarter worth $50,000. 55.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FENC. Wedbush reissued an “outperform” rating and issued a $16.00 price objective on shares of Fennec Pharmaceuticals in a research note on Monday, March 18th. Craig Hallum raised their target price on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, March 18th.

Fennec Pharmaceuticals Company Profile

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.