AIGH Capital Management LLC Takes Position in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

AIGH Capital Management LLC bought a new stake in Fennec Pharmaceuticals Inc (NASDAQ:FENC) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 162,154 shares of the company’s stock, valued at approximately $1,349,000. AIGH Capital Management LLC owned approximately 0.61% of Fennec Pharmaceuticals as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sonic GP LLC bought a new position in shares of Fennec Pharmaceuticals in the fourth quarter valued at about $23,111,000. Opaleye Management Inc. bought a new position in shares of Fennec Pharmaceuticals in the fourth quarter valued at about $2,613,000. DG Capital Management LLC raised its holdings in shares of Fennec Pharmaceuticals by 22.3% in the first quarter. DG Capital Management LLC now owns 1,250,096 shares of the company’s stock valued at $10,401,000 after buying an additional 228,144 shares during the last quarter. Gendell Jeffrey L bought a new position in shares of Fennec Pharmaceuticals in the fourth quarter valued at about $1,469,000. Finally, Harbert Fund Advisors Inc. raised its holdings in shares of Fennec Pharmaceuticals by 47.3% in the first quarter. Harbert Fund Advisors Inc. now owns 466,869 shares of the company’s stock valued at $3,884,000 after buying an additional 149,920 shares during the last quarter. Institutional investors and hedge funds own 53.06% of the company’s stock.

Insider Activity at Fennec Pharmaceuticals

In related news, CFO Robert Andrade sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $8.99, for a total value of $89,900.00. Following the completion of the transaction, the chief financial officer now directly owns 139,721 shares in the company, valued at approximately $1,256,091.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fennec Pharmaceuticals news, Director Chris A. Rallis sold 6,796 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $8.17, for a total transaction of $55,523.32. Following the completion of the transaction, the director now owns 43,976 shares of the company’s stock, valued at approximately $359,283.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Robert Andrade sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $8.99, for a total value of $89,900.00. Following the transaction, the chief financial officer now directly owns 139,721 shares of the company’s stock, valued at approximately $1,256,091.79. The disclosure for this sale can be found here. In the last three months, insiders sold 27,176 shares of company stock worth $235,550. 11.25% of the stock is owned by company insiders.

Fennec Pharmaceuticals Trading Up 2.9 %

Shares of FENC stock traded up $0.23 on Friday, reaching $8.20. The company had a trading volume of 81,909 shares, compared to its average volume of 41,870. The stock has a market cap of $218.37 million, a PE ratio of -8.12 and a beta of 0.24. The company has a 50-day moving average of $8.32 and a 200-day moving average of $8.37. Fennec Pharmaceuticals Inc has a 12 month low of $6.29 and a 12 month high of $10.85.

Fennec Pharmaceuticals (NASDAQ:FENC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). The firm had revenue of $3.33 million during the quarter, compared to the consensus estimate of $4.01 million. Sell-side analysts anticipate that Fennec Pharmaceuticals Inc will post -0.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright cut their price target on Fennec Pharmaceuticals from $18.00 to $17.00 and set a “buy” rating for the company in a report on Friday, August 4th.

Fennec Pharmaceuticals 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.