Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) CFO Robert Andrade sold 75,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $11.78, for a total value of $883,500.00. Following the transaction, the chief financial officer owned 217,675 shares in the company, valued at $2,564,211.50. This represents a 25.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Adherex Technologies Trading Up 4.2%
Shares of FENC opened at $12.27 on Friday. The firm has a market cap of $430.19 million, a P/E ratio of -94.38 and a beta of 1.09. Adherex Technologies Inc. has a 12 month low of $5.65 and a 12 month high of $13.25. The stock's 50 day moving average is $10.81 and its two-hundred day moving average is $8.91.
Adherex Technologies (NASDAQ:FENC - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. Adherex Technologies had a negative return on equity of 5.71% and a negative net margin of 6.09%.The business had revenue of $17.87 million during the quarter, compared to the consensus estimate of $16.21 million. Equities research analysts forecast that Adherex Technologies Inc. will post 0.29 EPS for the current year.
Institutional Inflows and Outflows
A hedge fund recently bought a new position in Adherex Technologies stock. Jane Street Group LLC acquired a new stake in Adherex Technologies Inc. (NASDAQ:FENC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,718 shares of the company's stock, valued at approximately $90,000. Jane Street Group LLC owned approximately 0.05% of Adherex Technologies as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 55.51% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the stock. Wedbush boosted their target price on shares of Adherex Technologies from $13.00 to $16.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. B. Riley Financial reaffirmed a "buy" rating and issued a $18.00 price target (up from $16.00) on shares of Adherex Technologies in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Adherex Technologies from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Zacks Research upgraded Adherex Technologies from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. Finally, HC Wainwright boosted their price objective on Adherex Technologies from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.00.
Get Our Latest Stock Analysis on Adherex Technologies
Adherex Technologies Company Profile
(
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.
Read More
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].
