Key Points
- Director Rosty Raykov sold 10,781 shares on May 1 at an average price of $6.47 for $69,753, executed under a pre-arranged Rule 10b5-1 plan; his holdings fell 8.15% to 121,451 shares (valued ≈ $785,788).
- The May sale follows two earlier dispositions this year (10,946 shares on April 1 at $6.31 and 10,349 shares on February 2 at $7.76), signaling multiple insider sales in recent months.
- Adherex (FENC) reported a Q1 EPS miss
Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) Director Rosty Raykov sold 10,781 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $6.47, for a total transaction of $69,753.07. Following the completion of the sale, the director directly owned 121,451 shares in the company, valued at $785,787.97. This trade represents a 8.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Rosty Raykov also recently made the following trade(s):
- On Wednesday, April 1st, Rosty Raykov sold 10,946 shares of Adherex Technologies stock. The shares were sold at an average price of $6.31, for a total transaction of $69,069.26.
- On Monday, February 2nd, Rosty Raykov sold 10,349 shares of Adherex Technologies stock. The shares were sold at an average price of $7.76, for a total transaction of $80,308.24.
Adherex Technologies Price Performance
Shares of Adherex Technologies stock opened at $6.54 on Friday. The firm has a market capitalization of $225.90 million, a PE ratio of -19.23 and a beta of 0.93. The company's fifty day moving average price is $7.11 and its two-hundred day moving average price is $7.66. Adherex Technologies Inc. has a 52-week low of $5.65 and a 52-week high of $9.92.
Adherex Technologies (NASDAQ:FENC - Get Free Report) last announced its quarterly earnings results on Saturday, March 28th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.21). The business had revenue of $13.78 million during the quarter, compared to the consensus estimate of $14.75 million. Adherex Technologies had a negative net margin of 22.62% and a negative return on equity of 183.18%. Analysts predict that Adherex Technologies Inc. will post 0.22 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research firms have recently weighed in on FENC. Zacks Research lowered shares of Adherex Technologies from a "hold" rating to a "strong sell" rating in a report on Wednesday, March 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adherex Technologies in a report on Tuesday, April 21st. B. Riley Financial began coverage on shares of Adherex Technologies in a report on Thursday, February 12th. They issued a "buy" rating and a $16.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and issued a $13.00 target price on shares of Adherex Technologies in a report on Thursday, April 16th. Finally, Piper Sandler began coverage on shares of Adherex Technologies in a report on Friday, January 9th. They issued an "overweight" rating and a $18.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Adherex Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $14.80.
Get Our Latest Report on Adherex Technologies
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Adherex Technologies stock. AQR Capital Management LLC purchased a new position in shares of Adherex Technologies Inc. (NASDAQ:FENC - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,897 shares of the company's stock, valued at approximately $66,000. Hedge funds and other 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. 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.
Further Reading
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