Fennec Pharmaceuticals Inc (NASDAQ:FENC) Short Interest Update

Fennec Pharmaceuticals Inc (NASDAQ:FENC) saw a significant increase in short interest during 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. Approximately 9.1% of the shares of the company are sold short. Based on an average daily trading volume, of 110,600 shares, the days-to-cover ratio is presently 16.4 days.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FENC shares. Wedbush reaffirmed an “outperform” rating and set a $16.00 price target on shares of Fennec Pharmaceuticals in a report on Monday, March 18th. HC Wainwright boosted their price objective on shares of Fennec Pharmaceuticals from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Craig Hallum boosted their price objective on shares of Fennec Pharmaceuticals from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, March 18th.

Insider Buying and Selling

In related news, CFO Robert Andrade sold 13,975 shares of the firm’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 transaction, the chief financial officer now owns 105,746 shares of the company’s stock, valued at $1,163,206. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Robert Andrade sold 13,975 shares of the firm’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 transaction, the chief financial officer now owns 105,746 shares of the company’s stock, valued at $1,163,206. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rosty Raykov sold 44,300 shares of Fennec Pharmaceuticals stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $10.75, for a total transaction of $476,225.00. Following the transaction, the chief executive officer now directly owns 187,471 shares in the company, valued at approximately $2,015,313.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,773 shares of company stock valued at $1,098,996. 11.25% of the stock is owned by insiders.

Institutional Trading of Fennec Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in FENC. JPMorgan Chase & Co. lifted its stake in Fennec Pharmaceuticals by 23,280.0% in the first quarter. JPMorgan Chase & Co. now owns 16,366 shares of the company’s stock worth $91,000 after acquiring an additional 16,296 shares during the period. UBS Group AG lifted its stake in Fennec Pharmaceuticals by 4,742.2% in the third quarter. UBS Group AG now owns 3,099 shares of the company’s stock worth $26,000 after acquiring an additional 3,035 shares during the period. Jane Street Group LLC purchased a new stake in Fennec Pharmaceuticals in the third quarter worth about $118,000. Citigroup Inc. purchased a new stake in Fennec Pharmaceuticals in the fourth quarter worth about $163,000. Finally, Barclays PLC purchased a new stake in Fennec Pharmaceuticals in the fourth quarter worth about $89,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

Fennec Pharmaceuticals Trading Down 1.5 %

NASDAQ FENC opened at $10.33 on Tuesday. The company’s 50-day moving average price is $10.10 and its 200-day moving average price is $9.31. The stock has a market cap of $279.99 million, a PE ratio of -16.93 and a beta of 0.38. Fennec Pharmaceuticals has a 12 month low of $6.30 and a 12 month high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.12). The firm had revenue of $9.74 million for the quarter, compared to analysts’ expectations of $9.47 million. As a group, sell-side analysts forecast that Fennec Pharmaceuticals will post 0.11 earnings per share for the current year.

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.