Fennec Pharmaceuticals (TSE:FRX) Stock Crosses Above 50-Day Moving Average – Here’s Why

Fennec Pharmaceuticals Inc. (TSE:FRX) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$10.77 and traded as high as C$10.96. Fennec Pharmaceuticals shares last traded at C$10.46, with a volume of 1,573 shares.

Fennec Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of -620.83, a current ratio of 7.80 and a quick ratio of 10.17. The firm’s 50-day moving average price is C$10.75 and its 200 day moving average price is C$11.56. The firm has a market capitalization of C$357.24 million, a price-to-earnings ratio of -40.23 and a beta of 2.78.

Insider Buying and Selling

In other news, insider Southpoint Capital Advisors Lp sold 1,000,000 shares of the business’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of C$10.35, for a total value of C$10,350,000.00. Following the completion of the transaction, the insider directly owned 2,744,741 shares of the company’s stock, valued at C$28,408,069.35. The trade was a 26.70% decrease in their ownership of the stock. In the last 90 days, insiders sold 1,246,018 shares of company stock worth $13,210,611. 16.20% of the stock is currently owned by corporate insiders.

Fennec Pharmaceuticals Company Profile

Fennec Pharmaceuticals Inc is a clinical-stage biotechnology company. It is primarily engaged in research and development activities. The company is developing Sodium Thiosulfate (STS), a chemo-protectant against hearing loss associated with platinum-based chemotherapy. Its lead product candidate is PEDMARK which is sodium thiosulfate in a novel formulation for the prevention of cisplatin induced hearing loss, or ototoxicity in children.