Key Points
- Rosty Raykov sold 10,349 Adherex (NASDAQ:FENC) shares on Feb 2 at an average price of $7.76 for $80,308.24, cutting his stake to 98,477 shares (a 9.51% decline); he also sold 10,000 shares on Dec 5 and 10,000 on Nov 5.
- Adherex shares opened at $7.83 (50-day/200-day moving averages $7.66/$8.27), the company has a ~$267.5M market cap, and analysts hold a consensus "Moderate Buy" with a $14.50 target while Piper Sandler recently initiated coverage with an $18 overweight.
Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) Director Rosty Raykov sold 10,349 shares of the company's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $7.76, for a total transaction of $80,308.24. Following the transaction, the director owned 98,477 shares in the company, valued at $764,181.52. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Rosty Raykov also recently made the following trade(s):
- On Friday, December 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $7.54, for a total transaction of $75,400.00.
- On Wednesday, November 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The stock was sold at an average price of $8.10, for a total value of $81,000.00.
Adherex Technologies Price Performance
Shares of Adherex Technologies stock opened at $7.83 on Tuesday. The firm's 50-day moving average is $7.66 and its two-hundred day moving average is $8.27. Adherex Technologies Inc. has a 1 year low of $4.68 and a 1 year high of $9.92. The stock has a market cap of $267.47 million, a price-to-earnings ratio of -34.04 and a beta of 0.77.
Adherex Technologies (NASDAQ:FENC - Get Free Report) last announced its earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.06. The company had revenue of $12.46 million for the quarter, compared to the consensus estimate of $13.43 million. On average, equities analysts expect that Adherex Technologies Inc. will post -0.11 earnings per share for the current year.
Analyst Upgrades and Downgrades
FENC has been the topic of a number of analyst reports. Piper Sandler assumed coverage on shares of Adherex Technologies in a research note on Friday, January 9th. They set an "overweight" rating and a $18.00 price objective on the stock. Zacks Research upgraded Adherex Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday, December 12th. Wall Street Zen lowered shares of Adherex Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 17th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Adherex Technologies in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.
Read Our Latest Research Report on FENC
Institutional Investors Weigh In On Adherex Technologies
A hedge fund recently bought a new stake in Adherex Technologies stock. Jane Street Group LLC bought a new stake in Adherex Technologies Inc. (NASDAQ:FENC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,718 shares of the company's stock, valued at approximately $90,000. Jane Street Group LLC owned 0.05% of Adherex Technologies at the end of the most recent reporting period. 55.51% of the stock is owned by 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. The company was formerly known as Adherex Technologies Inc and changed its name to Fennec Pharmaceuticals Inc in September 2014. Fennec Pharmaceuticals Inc was founded in 1996 and is based in Research Triangle Park, North Carolina.
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