Fennec Pharmaceuticals (TSE:FRX) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Fennec Pharmaceuticals Inc. (TSE:FRX)’s stock price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$11.28 and traded as low as C$10.61. Fennec Pharmaceuticals shares last traded at C$10.63, with a volume of 404 shares traded.

Fennec Pharmaceuticals Stock Up 2.3%

The company’s 50-day moving average price is C$11.28 and its 200 day moving average price is C$11.69. The company has a debt-to-equity ratio of -620.83, a quick ratio of 10.17 and a current ratio of 7.80. The stock has a market cap of C$363.05 million, a PE ratio of -40.88 and a beta of 2.51.

Insiders Place Their Bets

In other news, insider Southpoint Capital Advisors Lp sold 160,100 shares of Fennec Pharmaceuticals stock in a transaction on Friday, November 14th. The shares were sold at an average price of C$11.24, for a total transaction of C$1,799,524.00. Following the transaction, the insider owned 3,850,000 shares in the company, valued at C$43,274,000. This trade represents a 3.99% decrease in their position. Insiders have sold 314,907 shares of company stock valued at $3,761,017 in the last 90 days. 16.20% of the stock is currently owned by company insiders.

About Fennec Pharmaceuticals

Fennec Pharmaceuticals Inc is a clinical-stage biotechnology company. It is primarily engaged in research and development activities. The company is developing Sodium Thiosulfate (STS), a chemo-protectant against hearing loss associated with platinum-based chemotherapy. Its lead product candidate is PEDMARK which is sodium thiosulfate in a novel formulation for the prevention of cisplatin induced hearing loss, or ototoxicity in children.