Fennec Pharmaceuticals Inc (NASDAQ:FENC) Short Interest Update

Fennec Pharmaceuticals Inc (NASDAQ:FENC) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,810,000 shares, an increase of 7.1% from the March 15th total of 1,690,000 shares. Currently, 9.1% of the shares of the stock are sold short. Based on an average trading volume of 110,600 shares, the short-interest ratio is presently 16.4 days.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FENC shares. Wedbush reiterated an “outperform” rating and issued a $16.00 target price on shares of Fennec Pharmaceuticals in a report on Monday, March 18th. HC Wainwright boosted their target price on shares of Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, Craig Hallum boosted their target price on shares of Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, March 18th.

Fennec Pharmaceuticals Stock Performance

Shares of NASDAQ:FENC opened at $10.26 on Wednesday. The company has a market cap of $278.05 million, a PE ratio of -16.82 and a beta of 0.38. Fennec Pharmaceuticals has a 52 week low of $6.30 and a 52 week high of $11.92. The firm has a 50 day simple moving average of $10.10 and a 200 day simple moving average of $9.31.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.12). The company had revenue of $9.74 million for the quarter, compared to analyst estimates of $9.47 million. On average, equities analysts predict that Fennec Pharmaceuticals will post 0.11 earnings per share for the current year.

Insider Transactions at Fennec Pharmaceuticals

In other news, CFO Robert Andrade sold 13,975 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $11.00, for a total value of $153,725.00. Following the completion of the sale, the chief financial officer now directly owns 105,746 shares of the company’s stock, valued at approximately $1,163,206. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Robert Andrade sold 13,975 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $11.00, for a total value of $153,725.00. Following the completion of the sale, the chief financial officer now directly owns 105,746 shares of the company’s stock, valued at approximately $1,163,206. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rosty Raykov sold 44,300 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $10.75, for a total transaction of $476,225.00. Following the completion of the sale, the chief executive officer now directly owns 187,471 shares of the company’s stock, valued at $2,015,313.25. The disclosure for this sale can be found here. In the last three months, insiders sold 101,773 shares of company stock valued at $1,098,996. Company insiders own 11.25% of the company’s stock.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Fennec Pharmaceuticals by 1,294.3% in the 4th quarter. Vanguard Group Inc. now owns 1,140,063 shares of the company’s stock worth $12,792,000 after buying an additional 1,058,295 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Fennec Pharmaceuticals by 78.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 31,000 shares of the company’s stock worth $348,000 after buying an additional 13,664 shares in the last quarter. Barclays PLC lifted its position in Fennec Pharmaceuticals by 624.7% in the 4th quarter. Barclays PLC now owns 25,075 shares of the company’s stock worth $282,000 after buying an additional 21,615 shares in the last quarter. Royal Bank of Canada lifted its position in Fennec Pharmaceuticals by 21.1% in the 4th quarter. Royal Bank of Canada now owns 7,102 shares of the company’s stock worth $79,000 after buying an additional 1,236 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Fennec Pharmaceuticals by 107.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company’s stock worth $34,000 after buying an additional 1,578 shares in the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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.