Fennec Pharmaceuticals (TSE:FRX) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Shares of Fennec Pharmaceuticals Inc. (TSE:FRX) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$10.57 and traded as low as C$10.13. Fennec Pharmaceuticals shares last traded at C$10.21, with a volume of 478 shares.

Fennec Pharmaceuticals Price Performance

The stock has a 50-day moving average price of C$10.57 and a two-hundred day moving average price of C$11.48. The company has a current ratio of 7.80, a quick ratio of 10.17 and a debt-to-equity ratio of -620.83. The stock has a market cap of C$348.70 million, a price-to-earnings ratio of -39.27 and a beta of 2.78.

Insider Activity

In related news, insider Southpoint Capital Advisors Lp sold 1,000,000 shares of Fennec Pharmaceuticals stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of C$10.35, for a total value of C$10,350,000.00. Following the completion of the sale, the insider directly owned 2,744,741 shares in the company, valued at C$28,408,069.35. This trade represents a 26.70% decrease in their position. Insiders have sold a total of 1,246,018 shares of company stock worth $13,210,611 in the last 90 days. Corporate insiders own 16.20% of the company’s stock.

About Fennec Pharmaceuticals

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.