Fennec Pharmaceuticals (TSE:FRX) Insider Sells 12,000 Shares of Stock

Fennec Pharmaceuticals Inc. (TSE:FRX) insider Pierre Sayad sold 12,000 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of C$17.18, for a total transaction of C$206,160.00. Following the transaction, the insider owned 9,519 shares in the company, valued at approximately C$163,536.42. This trade represents a 55.76% decrease in their position.

Fennec Pharmaceuticals Stock Performance

FRX stock traded down C$0.32 during trading on Tuesday, reaching C$17.10. The company had a trading volume of 234 shares, compared to its average volume of 1,258. Fennec Pharmaceuticals Inc. has a twelve month low of C$7.59 and a twelve month high of C$17.64. The company has a market cap of C$599.65 million, a price-to-earnings ratio of -142.50 and a beta of 3.72. The firm has a 50-day simple moving average of C$15.48 and a 200-day simple moving average of C$12.63.

Hedge Funds Weigh In On Fennec Pharmaceuticals

An institutional investor recently bought a new stake in Fennec Pharmaceuticals stock. Cornerstone Capital Inc. bought a new position in shares of Fennec Pharmaceuticals Inc. (TSE:FRX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 105,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,129,000. Cornerstone Capital Inc. owned about 0.30% of Fennec Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 15.40% of the company’s stock.

About Fennec Pharmaceuticals

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.