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

Fennec Pharmaceuticals Inc. (TSE:FRX)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty 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.

Fennec Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of -620.83, a current ratio of 7.80 and a quick ratio of 10.17. The company has a market capitalization of C$363.05 million, a PE ratio of -40.88 and a beta of 2.51. The firm has a 50-day moving average of C$11.28 and a 200 day moving average of C$11.69.

Insider Transactions at Fennec Pharmaceuticals

In other Fennec Pharmaceuticals news, insider Southpoint Capital Advisors Lp sold 85,918 shares of Fennec Pharmaceuticals stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of C$12.35, for a total value of C$1,061,087.30. Following the completion of the sale, the insider owned 3,764,082 shares of the company’s stock, valued at approximately C$46,486,412.70. The trade was a 2.23% decrease in their position. Insiders have sold a total of 314,907 shares of company stock valued at $3,761,017 in the last 90 days. Company insiders own 16.20% of the company’s stock.

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.