Fennec Pharmaceuticals (TSE:FRX) Stock Price Crosses Below 50-Day Moving Average – Time to Sell?

Fennec Pharmaceuticals Inc. (TSE:FRX) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$10.66 and traded as low as C$8.70. Fennec Pharmaceuticals shares last traded at C$8.70, with a volume of 169 shares.

Analyst Upgrades and Downgrades

Separately, B. Riley Financial upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Fennec Pharmaceuticals Trading Down 4.3%

The firm’s fifty day moving average price is C$10.61 and its 200 day moving average price is C$11.19. The firm has a market capitalization of C$284.58 million, a PE ratio of -23.80 and a beta of 3.01.

Insider Buying and Selling

In other news, Director Rostislav Christov Raykov bought 15,598 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were bought at an average cost of C$3.37 per share, with a total value of C$52,565.26. Following the transaction, the director directly owned 2,719,643 shares in the company, valued at approximately C$9,165,196.91. This trade represents a 0.58% increase in their position. 16.20% of the stock is 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.