Adherex Technologies (NASDAQ:FENC) Director Rosty Raykov Sells 10,000 Shares of Stock

Adherex Technologies Inc. (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $7.54, for a total transaction of $75,400.00. Following the completion of the sale, the director directly owned 77,526 shares in the company, valued at approximately $584,546.04. This trade represents a 11.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, November 5th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The stock was sold at an average price of $8.10, for a total transaction of $81,000.00.
• On Monday, October 6th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $9.78, for a total transaction of $97,800.00.

Adherex Technologies Trading Down 3.0%

Shares of FENC opened at $7.55 on Friday. Adherex Technologies Inc. has a twelve month low of $4.68 and a twelve month high of $9.92. The firm’s fifty day simple moving average is $8.43 and its 200-day simple moving average is $8.45. The firm has a market capitalization of $257.76 million, a price-to-earnings ratio of -32.83 and a beta of 0.75.

Adherex Technologies (NASDAQ:FENC) last issued its earnings results on Thursday, November 13th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. The firm had revenue of $12.46 million for the quarter, compared to analyst estimates of $13.43 million. On average, analysts predict that Adherex Technologies Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new position in shares of Adherex Technologies during the first quarter worth approximately $66,000. Jane Street Group LLC acquired a new stake in Adherex Technologies during the 1st quarter worth $90,000. Finally, Nuveen LLC acquired a new stake in Adherex Technologies during the 1st quarter worth $158,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on FENC shares. Zacks Research downgraded Adherex Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Adherex Technologies in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Adherex Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 23rd. Craig Hallum boosted their price objective on shares of Adherex Technologies from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Finally, HC Wainwright restated a “buy” rating and issued a $13.00 target price on shares of Adherex Technologies in a report on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.33.

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.