Fennec Pharmaceuticals Inc (NASDAQ:FENC) Short Interest Update

Fennec Pharmaceuticals Inc (NASDAQ:FENC) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,810,000 shares, a growth of 7.1% from the March 15th total of 1,690,000 shares. Currently, 9.1% of the company’s shares are sold short. Based on an average daily volume of 110,600 shares, the days-to-cover ratio is currently 16.4 days.

Fennec Pharmaceuticals Trading Down 5.5 %

Shares of NASDAQ:FENC opened at $9.70 on Thursday. The firm has a market cap of $262.87 million, a price-to-earnings ratio of -15.90 and a beta of 0.38. Fennec Pharmaceuticals has a 1 year low of $6.30 and a 1 year high of $11.92. The business has a fifty day simple moving average of $10.10 and a 200 day simple moving average of $9.33.

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

Insider Activity at Fennec Pharmaceuticals

In other Fennec Pharmaceuticals news, COO Adrian Haigh sold 22,222 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $10.30, for a total transaction of $228,886.60. Following the sale, the chief operating officer now owns 22,222 shares in the company, valued at approximately $228,886.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Fennec Pharmaceuticals news, CEO Rosty Raykov sold 44,300 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 187,471 shares of the company’s stock, valued at approximately $2,015,313.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Adrian Haigh sold 22,222 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $10.30, for a total value of $228,886.60. Following the completion of the sale, the chief operating officer now directly owns 22,222 shares of the company’s stock, valued at approximately $228,886.60. The disclosure for this sale can be found here. Insiders sold 123,995 shares of company stock worth $1,327,883 in the last quarter. 11.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fennec Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in FENC. AIGH Capital Management LLC lifted its stake in Fennec Pharmaceuticals by 6.9% in the third quarter. AIGH Capital Management LLC now owns 373,526 shares of the company’s stock valued at $2,805,000 after acquiring an additional 24,069 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Fennec Pharmaceuticals during the 3rd quarter worth $50,000. Gendell Jeffrey L raised its holdings in shares of Fennec Pharmaceuticals by 0.9% during the 3rd quarter. Gendell Jeffrey L now owns 285,992 shares of the company’s stock valued at $2,148,000 after purchasing an additional 2,579 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Fennec Pharmaceuticals by 206.1% in the 1st quarter. Bank of America Corp DE now owns 6,735 shares of the company’s stock valued at $56,000 after purchasing an additional 4,535 shares during the last quarter. Finally, California State Teachers Retirement System bought a new stake in Fennec Pharmaceuticals in the second quarter worth $53,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FENC shares. HC Wainwright increased their price objective on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Wedbush reissued an “outperform” rating and issued a $16.00 price target on shares of Fennec Pharmaceuticals in a research report on Monday, March 18th. 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.

Fennec Pharmaceuticals 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.