Fennec Pharmaceuticals (TSE:FRX) Hits New 52-Week High – Here’s What Happened

Fennec Pharmaceuticals Inc. (TSE:FRX)’s share price hit a new 52-week high on Friday . The company traded as high as C$15.60 and last traded at C$15.60, with a volume of 175 shares changing hands. The stock had previously closed at C$14.88.

Fennec Pharmaceuticals Trading Up 4.0%

The stock has a market capitalization of C$541.90 million, a PE ratio of -53.79 and a beta of 3.55. The stock has a 50 day moving average price of C$14.01 and a 200-day moving average price of C$11.68.

Insider Buying and Selling at Fennec Pharmaceuticals

In other Fennec Pharmaceuticals news, Director Rostislav Christov Raykov sold 9,747 shares of Fennec Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of C$13.23, for a total transaction of C$128,952.81. Following the transaction, the director owned 2,746,104 shares of the company’s stock, valued at C$36,330,955.92. The trade was a 0.35% decrease in their ownership of the stock. Also, Director Chris Anigeron Rallis sold 8,346 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of C$9.67, for a total transaction of C$80,705.82. Following the sale, the director owned 61,314 shares in the company, valued at C$592,906.38. The trade was a 11.98% decrease in their ownership of the stock. Corporate insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Fennec Pharmaceuticals

An institutional investor recently bought a new stake in Fennec Pharmaceuticals stock. Cornerstone Capital Inc. bought a new position in shares of Fennec Pharmaceuticals Inc. (TSE:FRX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 (SEC). 14.40% of the stock is 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.