Fennec Pharmaceuticals Inc. (TSE:FRX – Get Free Report) insider Robert Christopher Andrade sold 106,844 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 217,675 shares in the company, valued at approximately C$3,619,935.25. This represents a 32.92% decrease in their position.
Fennec Pharmaceuticals Stock Performance
TSE FRX opened at C$17.00 on Friday. The stock has a fifty day moving average of C$15.18 and a 200-day moving average of C$12.35. The stock has a market capitalization of C$596.14 million, a P/E ratio of -141.67 and a beta of 3.55. Fennec Pharmaceuticals Inc. has a 52 week low of C$7.59 and a 52 week high of C$17.64.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Fennec Pharmaceuticals stock. Cornerstone Capital Inc. bought a new stake in shares of Fennec Pharmaceuticals Inc. (TSE:FRX – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 105,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,129,000. Cornerstone Capital Inc. owned 0.30% of Fennec Pharmaceuticals at the end of the most recent quarter. 15.23% of the stock is owned by hedge funds and other institutional investors.
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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