Fennec Pharmaceuticals Inc (NASDAQ:FENC) is Lion Point Capital LP’s 5th Largest Position

Lion Point Capital LP lowered its holdings in Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,700 shares of the company’s stock after selling 19,300 shares during the quarter. Fennec Pharmaceuticals accounts for about 6.5% of Lion Point Capital LP’s investment portfolio, making the stock its 5th biggest holding. Lion Point Capital LP owned 0.71% of Fennec Pharmaceuticals worth $1,237,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Bank of America Corp DE raised its stake in shares of Fennec Pharmaceuticals by 32.1% in the fourth quarter. Bank of America Corp DE now owns 35,827 shares of the company’s stock worth $226,000 after purchasing an additional 8,703 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Fennec Pharmaceuticals by 11.5% in the fourth quarter. BNP Paribas Financial Markets now owns 44,626 shares of the company’s stock worth $282,000 after purchasing an additional 4,610 shares during the last quarter. Solas Capital Management LLC raised its stake in shares of Fennec Pharmaceuticals by 17.0% in the fourth quarter. Solas Capital Management LLC now owns 2,250,919 shares of the company’s stock worth $14,226,000 after purchasing an additional 327,383 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of Fennec Pharmaceuticals in the fourth quarter worth $99,000. Finally, Barclays PLC grew its holdings in shares of Fennec Pharmaceuticals by 13.9% in the fourth quarter. Barclays PLC now owns 35,672 shares of the company’s stock worth $225,000 after acquiring an additional 4,353 shares during the period. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Insider Buying and Selling at Fennec Pharmaceuticals

In other Fennec Pharmaceuticals news, Director Rosty Raykov sold 10,000 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $5.25, for a total transaction of $52,500.00. Following the completion of the sale, the director now owns 61,156 shares of the company’s stock, valued at approximately $321,069. The trade was a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 31,186 shares of company stock valued at $191,589. Company insiders own 11.76% of the company’s stock.

Fennec Pharmaceuticals Price Performance

Shares of FENC opened at $5.97 on Monday. Fennec Pharmaceuticals Inc has a one year low of $3.96 and a one year high of $10.07. The firm has a market capitalization of $164.74 million, a P/E ratio of -59.69 and a beta of 0.32. The business has a fifty day moving average of $5.92 and a 200 day moving average of $5.88.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Fennec Pharmaceuticals in a report on Monday, March 10th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Fennec Pharmaceuticals in a report on Tuesday, March 11th.

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.