Rosty Raykov Sells 10,946 Shares of Adherex Technologies (NASDAQ:FENC) Stock

Adherex Technologies Inc. (NASDAQ:FENC) Director Rosty Raykov sold 10,946 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $6.31, for a total value of $69,069.26. Following the completion of the transaction, the director directly owned 113,856 shares in the company, valued at approximately $718,431.36. This trade represents a 8.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rosty Raykov also recently made the following trade(s):

• On Monday, February 2nd, Rosty Raykov sold 10,349 shares of Adherex Technologies stock. The stock was sold at an average price of $7.76, for a total value of $80,308.24.

Adherex Technologies Stock Performance

NASDAQ FENC opened at $6.42 on Friday. Adherex Technologies Inc. has a 12 month low of $4.68 and a 12 month high of $9.92. The stock has a 50-day simple moving average of $7.69 and a 200 day simple moving average of $8.00. The company has a market capitalization of $221.30 million, a PE ratio of -18.88 and a beta of 0.93.

Adherex Technologies (NASDAQ:FENC) last issued its earnings results on Friday, March 27th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21). The company had revenue of $13.78 million for the quarter, compared to the consensus estimate of $14.75 million. Adherex Technologies had a negative return on equity of 183.18% and a negative net margin of 22.62%. As a group, sell-side analysts predict that Adherex Technologies Inc. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adherex Technologies

An institutional investor recently bought a new position in Adherex Technologies stock. Jane Street Group LLC acquired a new stake in Adherex Technologies Inc. (NASDAQ:FENC) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned 0.05% of Adherex Technologies as of its most recent filing with the SEC. Institutional investors and hedge funds own 55.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FENC shares. Wall Street Zen cut shares of Adherex Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a report on Thursday, January 22nd. Piper Sandler began coverage on shares of Adherex Technologies in a research report on Friday, January 9th. They set an “overweight” rating and a $18.00 price target on the stock. B. Riley Financial assumed coverage on shares of Adherex Technologies in a report on Thursday, February 12th. They issued a “buy” rating and a $16.00 price target for the company. Finally, Zacks Research cut shares of Adherex Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Adherex Technologies 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. 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.