Eudaimonia Advisors LLC Increases Holdings in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

Eudaimonia Advisors LLC grew its holdings in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 90.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,686 shares of the company’s stock after buying an additional 15,556 shares during the quarter. Eudaimonia Advisors LLC’s holdings in Fennec Pharmaceuticals were worth $367,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in Fennec Pharmaceuticals during the 3rd quarter valued at about $50,000. Hartford Financial Management Inc. grew its holdings in Fennec Pharmaceuticals by 4.4% during the 4th quarter. Hartford Financial Management Inc. now owns 47,348 shares of the company’s stock valued at $531,000 after purchasing an additional 2,000 shares during the last quarter. Gendell Jeffrey L grew its holdings in 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 during the last quarter. Finally, AIGH Capital Management LLC grew its holdings in Fennec Pharmaceuticals by 6.9% during the 3rd quarter. AIGH Capital Management LLC now owns 373,526 shares of the company’s stock valued at $2,805,000 after purchasing an additional 24,069 shares during the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Fennec Pharmaceuticals Trading Down 1.5 %

Shares of Fennec Pharmaceuticals stock traded down $0.14 during trading on Tuesday, hitting $9.24. 288,706 shares of the company’s stock were exchanged, compared to its average volume of 114,180. The business has a 50-day simple moving average of $10.05 and a 200-day simple moving average of $9.40. Fennec Pharmaceuticals Inc has a 52-week low of $6.30 and a 52-week high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its earnings results on Thursday, March 21st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.12). The company had revenue of $9.74 million for the quarter, compared to analysts’ expectations of $9.47 million. Equities research analysts predict that Fennec Pharmaceuticals Inc will post 0.11 earnings per share for the current year.

Analysts Set New Price Targets

FENC has been the topic of a number of research analyst reports. HC Wainwright upped their target price on shares of Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Craig Hallum increased their target price 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. Finally, Wedbush reissued an “outperform” rating and set a $16.00 target price on shares of Fennec Pharmaceuticals in a research report on Monday, March 18th.

Insider Activity at Fennec Pharmaceuticals

In related news, CEO Rosty Raykov sold 40,584 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $10.78, for a total transaction of $437,495.52. Following the sale, the chief executive officer now owns 276,054 shares in the company, valued at $2,975,862.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Rosty Raykov sold 40,584 shares of Fennec Pharmaceuticals stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $10.78, for a total value of $437,495.52. Following the sale, the chief executive officer now owns 276,054 shares in the company, valued at $2,975,862.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Adrian Haigh sold 22,223 shares of Fennec Pharmaceuticals stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $9.32, for a total transaction of $207,118.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 190,662 shares of company stock worth $1,962,775. 11.25% of the stock is owned by company insiders.

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.