Fennec Pharmaceuticals (TSE:FRX) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Fennec Pharmaceuticals Inc. (TSE:FRX)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$10.66 and traded as low as C$8.70. Fennec Pharmaceuticals shares last traded at C$8.70, with a volume of 169 shares.

Analyst Upgrades and Downgrades

Separately, B. Riley Financial raised shares of Fennec Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has an average rating of “Strong Buy”.

Fennec Pharmaceuticals Stock Performance

The stock has a market cap of C$297.22 million, a PE ratio of -24.86 and a beta of 3.01. The company’s 50-day moving average price is C$10.66 and its two-hundred day moving average price is C$11.21.

Insiders Place Their Bets

In other Fennec Pharmaceuticals news, Director Rostislav Christov Raykov sold 10,349 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of C$10.69, for a total transaction of C$110,630.81. Following the sale, the director owned 2,709,294 shares in the company, valued at C$28,962,352.86. This trade represents a 0.38% decrease in their ownership of the stock. 16.20% of the stock is owned by insiders.

Fennec Pharmaceuticals Company Profile

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.