Adherex Technologies (NASDAQ:FENC) Director Sells $69,753.07 in Stock

Adherex Technologies Inc. (NASDAQ:FENC) Director Rosty Raykov sold 10,781 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $6.47, for a total value of $69,753.07. Following the completion of the sale, the director owned 121,451 shares in the company, valued at approximately $785,787.97. This represents a 8.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Rosty Raykov sold 10,946 shares of Adherex Technologies stock. The stock was sold at an average price of $6.31, for a total value of $69,069.26.
• On Monday, February 2nd, Rosty Raykov sold 10,349 shares of Adherex Technologies stock. The stock was sold at an average price of $7.76, for a total value of $80,308.24.

Adherex Technologies Trading Up 0.8%

Adherex Technologies stock traded up $0.05 during mid-day trading on Friday, hitting $6.54. The company had a trading volume of 145,467 shares, compared to its average volume of 154,266. Adherex Technologies Inc. has a 12-month low of $5.65 and a 12-month high of $9.92. The company’s fifty day moving average is $7.11 and its 200-day moving average is $7.66. The company has a market capitalization of $225.89 million, a price-to-earnings ratio of -19.23 and a beta of 0.93.

Adherex Technologies (NASDAQ:FENC) last released its quarterly earnings data on Saturday, March 28th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.21). Adherex Technologies had a negative return on equity of 183.18% and a negative net margin of 22.62%.The company had revenue of $13.78 million during the quarter, compared to analysts’ expectations of $14.75 million. As a group, sell-side analysts expect that Adherex Technologies Inc. will post 0.22 EPS for the current fiscal year.

Institutional Trading of Adherex Technologies

An institutional investor recently bought a new position in Adherex Technologies stock. Jane Street Group LLC purchased a new position in shares of Adherex Technologies Inc. (NASDAQ:FENC) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned approximately 0.05% of Adherex Technologies as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FENC. Weiss Ratings restated a “sell (d-)” rating on shares of Adherex Technologies in a research report on Tuesday, April 21st. Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Adherex Technologies in a research note on Thursday, April 16th. Wall Street Zen downgraded Adherex Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. B. Riley Financial assumed coverage on Adherex Technologies in a research note on Thursday, February 12th. They set a “buy” rating and a $16.00 target price for the company. Finally, Piper Sandler assumed coverage on Adherex Technologies in a research note on Friday, January 9th. They set an “overweight” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Adherex Technologies currently has an average rating of “Moderate Buy” and an average target price of $14.80.

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. The company was formerly known as Adherex Technologies Inc and changed its name to Fennec Pharmaceuticals Inc in September 2014. Fennec Pharmaceuticals Inc was founded in 1996 and is based in Research Triangle Park, North Carolina.