Fennec Pharmaceuticals Inc (NASDAQ:FENC) CEO Purchases $97,615.35 in Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) CEO Jeffrey S. Hackman purchased 13,965 shares of the company’s stock in a transaction on Monday, May 19th. The stock was acquired at an average price of $6.99 per share, for a total transaction of $97,615.35. Following the completion of the transaction, the chief executive officer now owns 15,000 shares of the company’s stock, valued at $104,850. This represents a 1,349.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fennec Pharmaceuticals Trading Up 11.8%

FENC stock traded up $0.81 during mid-day trading on Monday, reaching $7.65. 232,447 shares of the stock traded hands, compared to its average volume of 96,640. Fennec Pharmaceuticals Inc has a 52-week low of $3.96 and a 52-week high of $7.70. The stock’s fifty day moving average is $5.91 and its 200-day moving average is $5.95. The company has a market cap of $211.29 million, a P/E ratio of -76.49 and a beta of 0.32.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. Fennec Pharmaceuticals had a negative net margin of 2.30% and a negative return on equity of 53.38%. The firm had revenue of $8.51 million during the quarter, compared to analyst estimates of $8.18 million. During the same quarter last year, the business posted $0.41 EPS. Equities research analysts expect that Fennec Pharmaceuticals Inc will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on FENC. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a report on Monday, March 10th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a report on Tuesday, March 11th. Finally, Craig Hallum raised their price objective on Fennec Pharmaceuticals from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Several hedge funds have recently bought and sold shares of FENC. Wells Fargo & Company MN lifted its position in shares of Fennec Pharmaceuticals by 31.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,152 shares of the company’s stock worth $83,000 after purchasing an additional 3,155 shares in the last quarter. Geode Capital Management LLC boosted its position in Fennec Pharmaceuticals by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 303,090 shares of the company’s stock valued at $1,916,000 after purchasing an additional 3,792 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Fennec Pharmaceuticals by 12.9% during the 4th quarter. Rhumbline Advisers now owns 34,299 shares of the company’s stock valued at $217,000 after buying an additional 3,911 shares during the last quarter. Barclays PLC raised its position in Fennec Pharmaceuticals by 13.9% during the fourth quarter. Barclays PLC now owns 35,672 shares of the company’s stock valued at $225,000 after acquiring an additional 4,353 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Fennec Pharmaceuticals by 11.5% in the fourth quarter. BNP Paribas Financial Markets now owns 44,626 shares of the company’s stock valued at $282,000 after acquiring an additional 4,610 shares during the last quarter. 55.51% of the stock is owned by hedge funds and other institutional investors.

About Fennec Pharmaceuticals

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.