Fennec Pharmaceuticals (TSE:FRX) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

Fennec Pharmaceuticals Inc. (TSE:FRX)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$10.86 and traded as low as C$10.36. Fennec Pharmaceuticals shares last traded at C$10.36, with a volume of 1,428 shares trading hands.

Fennec Pharmaceuticals Stock Performance

The stock has a market cap of C$353.83 million, a price-to-earnings ratio of -39.85 and a beta of 2.78. The company has a quick ratio of 10.17, a current ratio of 7.80 and a debt-to-equity ratio of -620.83. The company has a 50 day simple moving average of C$10.86 and a 200 day simple moving average of C$11.62.

Insider Transactions at Fennec Pharmaceuticals

In related news, insider Southpoint Capital Advisors Lp sold 160,100 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of C$11.24, for a total value of C$1,799,524.00. Following the completion of the transaction, the insider owned 3,850,000 shares of the company’s stock, valued at C$43,274,000. This represents a 3.99% decrease in their position. 16.20% of the stock is currently owned by corporate 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.