Fennec Pharmaceuticals Inc (NASDAQ:FENC) Short Interest Update

Fennec Pharmaceuticals Inc (NASDAQ:FENC) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 1,870,000 shares, a growth of 5.1% from the October 31st total of 1,780,000 shares. Based on an average trading volume of 104,500 shares, the days-to-cover ratio is currently 17.9 days. Currently, 8.1% of the company’s stock are short sold.

Fennec Pharmaceuticals Price Performance

Shares of Fennec Pharmaceuticals stock opened at $6.07 on Thursday. Fennec Pharmaceuticals has a one year low of $3.96 and a one year high of $11.92. The stock’s fifty day moving average is $4.80 and its 200 day moving average is $5.65. The stock has a market cap of $166.49 million, a P/E ratio of -60.70 and a beta of 0.35. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.64 and a current ratio of 7.80.

Insider Activity at Fennec Pharmaceuticals

In other news, Director Chris A. Rallis sold 6,409 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.14, for a total transaction of $39,351.26. Following the transaction, the director now directly owns 52,214 shares of the company’s stock, valued at $320,593.96. This represents a 10.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 12,677 shares of company stock valued at $68,207. 10.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fennec Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new stake in Fennec Pharmaceuticals during the second quarter valued at about $49,000. The Manufacturers Life Insurance Company bought a new stake in Fennec Pharmaceuticals during the second quarter valued at about $69,000. Franklin Resources Inc. raised its holdings in Fennec Pharmaceuticals by 18.7% during the third quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock valued at $74,000 after acquiring an additional 2,330 shares during the period. Rhumbline Advisers raised its holdings in Fennec Pharmaceuticals by 44.7% during the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after acquiring an additional 8,987 shares during the period. Finally, Barclays PLC raised its holdings in Fennec Pharmaceuticals by 274.3% during the third quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after acquiring an additional 22,951 shares during the period. 55.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th. HC Wainwright lowered their price target on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Craig Hallum lowered their price target on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $13.00 target price (down from $14.00) on shares of Fennec Pharmaceuticals in a report on Thursday, November 7th.

Fennec Pharmaceuticals Company Profile

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.