Rosty Raykov Sells 10,000 Shares of Adherex Technologies (NASDAQ:FENC) Stock

Adherex Technologies Inc. (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $8.10, for a total transaction of $81,000.00. Following the completion of the sale, the director directly owned 82,318 shares of the company’s stock, valued at approximately $666,775.80. This trade represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rosty Raykov also recently made the following trade(s):

• On Monday, October 6th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $9.78, for a total transaction of $97,800.00.

Adherex Technologies Stock Down 3.0%

Adherex Technologies stock traded down $0.25 during mid-day trading on Thursday, reaching $8.00. The company had a trading volume of 63,778 shares, compared to its average volume of 77,232. Adherex Technologies Inc. has a 52 week low of $3.96 and a 52 week high of $9.92. The company has a 50 day moving average of $8.84 and a 200-day moving average of $8.19. The firm has a market cap of $224.50 million, a price-to-earnings ratio of -19.05 and a beta of 0.71.

Adherex Technologies (NASDAQ:FENC) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). The business had revenue of $9.76 million for the quarter, compared to analysts’ expectations of $9.52 million. On average, analysts predict that Adherex Technologies Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on FENC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adherex Technologies in a report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Adherex Technologies in a report on Thursday, August 21st. Wall Street Zen raised shares of Adherex Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Craig Hallum lifted their price target on shares of Adherex Technologies from $13.00 to $14.00 and gave the company a “buy” rating in a report on Friday, August 15th. Finally, Zacks Research downgraded shares of Adherex Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.33.

Institutional Investors Weigh In On Adherex Technologies

Several institutional investors have recently modified their holdings of FENC. AIGH Capital Management LLC bought a new position in shares of Adherex Technologies in the first quarter valued at about $2,199,000. Nuveen LLC bought a new position in shares of Adherex Technologies in the first quarter valued at about $158,000. Jane Street Group LLC bought a new position in shares of Adherex Technologies in the first quarter valued at about $90,000. Finally, AQR Capital Management LLC bought a new position in shares of Adherex Technologies in the first quarter valued at about $66,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Adherex Technologies 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.