Fennec Pharmaceuticals Inc. (TSE:FRX – Get Free Report) insider Robert Christopher Andrade sold 106,844 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of C$16.63, for a total value of C$1,776,815.72. Following the sale, the insider directly owned 217,675 shares in the company, valued at C$3,619,935.25. This trade represents a 32.92% decrease in their ownership of the stock.
Fennec Pharmaceuticals Stock Performance
Shares of TSE FRX remained flat at C$17.00 during mid-day trading on Friday. The stock has a market cap of C$596.14 million, a PE ratio of -141.67 and a beta of 3.55. The stock’s 50-day moving average is C$15.09 and its 200 day moving average is C$12.31. Fennec Pharmaceuticals Inc. has a 12-month low of C$7.59 and a 12-month high of C$17.64.
Institutional Investors Weigh In On Fennec Pharmaceuticals
An institutional investor recently bought a new stake in Fennec Pharmaceuticals stock. Cornerstone Capital Inc. acquired a new stake in Fennec Pharmaceuticals Inc. (TSE:FRX – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 105,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,129,000. Cornerstone Capital Inc. owned approximately 0.30% of Fennec Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 15.23% of the company’s stock.
About Fennec Pharmaceuticals
Fennec Pharmaceuticals Inc is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom ( U.K. ) approval in October 2023 under the brand name PEDMARQSI®. In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, with rights to commercialize PEDMARQSI® in Europe, U.K., Australia and New Zealand.
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