Key Points
- Director Rosty Raykov sold 10,000 shares on December 5 at an average price of $7.54 for $75,400, reducing his direct stake by 11.43% to 77,526 shares (worth about $584,546).
- The December sale is part of a recent pattern of insider selling — Raykov also sold 10,000 shares on November 5 at $8.10 and 10,000 shares on October 6 at $9.78, totaling 30,000 shares sold in recent months.
- Adherex shares opened at $7.55, trade below their 50- and 200-day averages (~$8.45), have a 12-month range of $4.68–$9.92, a market cap of about $257.8M, and a consensus analyst rating of Hold with a $13.33 target.
Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) Director Rosty Raykov sold 10,000 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $7.54, for a total value of $75,400.00. Following the sale, the director directly owned 77,526 shares of the company's stock, valued at $584,546.04. The trade was a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Rosty Raykov also recently made the following trade(s):
- On Wednesday, November 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $8.10, for a total value of $81,000.00.
- On Monday, October 6th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $9.78, for a total value of $97,800.00.
Adherex Technologies Price Performance
Adherex Technologies stock opened at $7.55 on Friday. The business has a 50 day simple moving average of $8.43 and a 200-day simple moving average of $8.45. Adherex Technologies Inc. has a 12 month low of $4.68 and a 12 month high of $9.92. The stock has a market capitalization of $257.76 million, a PE ratio of -32.83 and a beta of 0.75.
Adherex Technologies (NASDAQ:FENC - Get Free Report) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.06. The firm had revenue of $12.46 million during the quarter, compared to analysts' expectations of $13.43 million. As a group, equities research analysts anticipate that Adherex Technologies Inc. will post -0.11 EPS for the current year.
Analysts Set New Price Targets
Several brokerages have recently weighed in on FENC. Wall Street Zen downgraded shares of Adherex Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 23rd. Zacks Research lowered Adherex Technologies from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 14th. Craig Hallum boosted their target price on Adherex Technologies from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. HC Wainwright reissued a "buy" rating and set a $13.00 target price on shares of Adherex Technologies in a research note on Thursday, August 21st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Adherex Technologies in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $13.33.
Get Our Latest Stock Analysis on Adherex Technologies
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new position in shares of Adherex Technologies in the first quarter valued at $66,000. Jane Street Group LLC acquired a new stake in Adherex Technologies in the 1st quarter valued at about $90,000. Finally, Nuveen LLC purchased a new position in Adherex Technologies during the 1st quarter valued at about $158,000. 55.51% of the stock is owned by hedge funds and other institutional investors.
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
