Key Points
- Major shareholder Southpoint Capital sold 19,341 Adherex (FENC) shares on Nov. 18 at $8.79, leaving it with 3,744,741 shares (a 0.51% reduction); this sale is part of a recent block of disposals totaling about 332,473 shares (~$2.84M) across October–November.
- Adherex stock traded at $7.89 (market cap ~$221.8M) after the company reported an EPS of -$0.02 (beating the -$0.08 estimate) but revenue of $12.46M missed estimates; analysts are mixed with a consensus "Hold" and an average price target of $13.33.
Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) major shareholder Southpoint Capital Advisors Lp sold 19,341 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $8.79, for a total value of $170,007.39. Following the completion of the transaction, the insider owned 3,744,741 shares in the company, valued at $32,916,273.39. This represents a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Southpoint Capital Advisors Lp also recently made the following trade(s):
- On Monday, November 17th, Southpoint Capital Advisors Lp sold 85,918 shares of Adherex Technologies stock. The stock was sold at an average price of $8.79, for a total transaction of $755,219.22.
- On Friday, November 14th, Southpoint Capital Advisors Lp sold 160,100 shares of Adherex Technologies stock. The shares were sold at an average price of $8.00, for a total value of $1,280,800.00.
- On Thursday, October 9th, Southpoint Capital Advisors Lp sold 20,609 shares of Adherex Technologies stock. The stock was sold at an average price of $9.35, for a total transaction of $192,694.15.
- On Wednesday, October 8th, Southpoint Capital Advisors Lp sold 19,605 shares of Adherex Technologies stock. The shares were sold at an average price of $9.47, for a total value of $185,659.35.
- On Tuesday, October 7th, Southpoint Capital Advisors Lp sold 26,900 shares of Adherex Technologies stock. The stock was sold at an average price of $9.59, for a total value of $257,971.00.
Adherex Technologies Trading Up 0.6%
NASDAQ:FENC traded up $0.05 during trading hours on Friday, hitting $7.89. 22,145 shares of the company traded hands, compared to its average volume of 83,159. The stock has a market capitalization of $221.84 million, a price-to-earnings ratio of -18.79 and a beta of 0.71. The firm has a 50-day moving average of $8.63 and a 200 day moving average of $8.35. Adherex Technologies Inc. has a twelve month low of $4.68 and a twelve month high of $9.92.
Adherex Technologies (NASDAQ:FENC - Get Free Report) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.06. The business had revenue of $12.46 million during the quarter, compared to analyst estimates of $13.43 million. Equities research analysts predict that Adherex Technologies Inc. will post -0.11 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
FENC has been the subject of a number of research reports. Craig Hallum raised their price target on shares of Adherex Technologies from $13.00 to $14.00 and gave the company a "buy" rating in a report on Friday, August 15th. HC Wainwright reaffirmed a "buy" rating and set a $13.00 price target on shares of Adherex Technologies in a research note on Thursday, August 21st. Zacks Research lowered Adherex Technologies from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Adherex Technologies in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Adherex Technologies from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 15th. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Adherex Technologies has a consensus rating of "Hold" and an average price target of $13.33.
View Our Latest Analysis on FENC
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of FENC. AQR Capital Management LLC acquired a new stake in shares of Adherex Technologies during the 1st quarter worth about $66,000. Jane Street Group LLC bought a new position in Adherex Technologies in the 1st quarter valued at about $90,000. Finally, Nuveen LLC bought a new position in Adherex Technologies in the 1st quarter valued at about $158,000. Institutional investors own 55.51% of the company's stock.
About Adherex Technologies
(
Get Free Report)
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.
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