Rosty Raykov Sells 10,349 Shares of Adherex Technologies (NASDAQ:FENC) Stock

Adherex Technologies Inc. (NASDAQ:FENC) Director Rosty Raykov sold 10,349 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $7.76, for a total value of $80,308.24. Following the transaction, the director owned 98,477 shares of the company’s stock, valued at approximately $764,181.52. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Rosty Raykov also recently made the following trade(s):

• On Friday, December 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $7.54, for a total value of $75,400.00.
• On Wednesday, November 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The stock was sold at an average price of $8.10, for a total value of $81,000.00.

Adherex Technologies Stock Up 1.0%

Shares of FENC opened at $7.91 on Wednesday. Adherex Technologies Inc. has a twelve month low of $4.68 and a twelve month high of $9.92. The stock has a market capitalization of $270.21 million, a P/E ratio of -34.39 and a beta of 0.77. The company has a 50 day moving average of $7.66 and a 200-day moving average of $8.27.

Adherex Technologies (NASDAQ:FENC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. The business had revenue of $12.46 million during the quarter, compared to the consensus estimate of $13.43 million. On average, sell-side analysts anticipate that Adherex Technologies Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FENC shares. Zacks Research upgraded Adherex Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adherex Technologies in a research report on Thursday, January 22nd. Wall Street Zen downgraded Adherex Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Piper Sandler started coverage on Adherex Technologies in a research report on Friday, January 9th. They set an “overweight” rating and a $18.00 price target on the stock. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Institutional Trading of Adherex Technologies

An institutional investor recently bought a new position in Adherex Technologies stock. Jane Street Group LLC bought a new position in shares of Adherex Technologies Inc. (NASDAQ:FENC) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned 0.05% of Adherex Technologies at the end of the most recent quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Adherex Technologies 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. The company was formerly known as Adherex Technologies Inc and changed its name to Fennec Pharmaceuticals Inc in September 2014. Fennec Pharmaceuticals Inc was founded in 1996 and is based in Research Triangle Park, North Carolina.