Insider Selling: Fennec Pharmaceuticals (TSE:FRX) Insider Sells C$206,160.00 in Stock

Fennec Pharmaceuticals Inc. (TSE:FRX) insider Pierre Sayad sold 12,000 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of C$17.18, for a total transaction of C$206,160.00. Following the transaction, the insider directly owned 9,519 shares in the company, valued at C$163,536.42. The trade was a 55.76% decrease in their position.

Fennec Pharmaceuticals Price Performance

Shares of Fennec Pharmaceuticals stock opened at C$17.10 on Friday. The business has a 50-day moving average price of C$15.59 and a 200 day moving average price of C$12.74. Fennec Pharmaceuticals Inc. has a fifty-two week low of C$7.59 and a fifty-two week high of C$17.64. The firm has a market cap of C$599.65 million, a P/E ratio of -142.50 and a beta of 3.72.

Institutional Trading of Fennec Pharmaceuticals

A hedge fund recently bought a new position in Fennec Pharmaceuticals stock. Cornerstone Capital Inc. purchased a new position in Fennec Pharmaceuticals Inc. (TSE:FRX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 105,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,129,000. Cornerstone Capital Inc. owned about 0.30% of Fennec Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. 15.40% of the stock is currently owned by institutional investors and hedge funds.

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.