Fennec Pharmaceuticals (TSE:FRX) Shares Cross Below 50 Day Moving Average – Time to Sell?

Fennec Pharmaceuticals Inc. (TSE:FRX)’s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$10.80 and traded as low as C$10.18. Fennec Pharmaceuticals shares last traded at C$10.18, with a volume of 101 shares.

Wall Street Analyst Weigh In

Separately, B. Riley Financial upgraded shares of Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Fennec Pharmaceuticals Stock Down 5.0%

The stock has a market capitalization of C$347.68 million, a price-to-earnings ratio of -39.15 and a beta of 3.01. The firm has a 50 day simple moving average of C$10.80 and a 200-day simple moving average of C$11.33. The company has a debt-to-equity ratio of -403.07, a current ratio of 4.69 and a quick ratio of 10.17.

Insider Activity

In other Fennec Pharmaceuticals news, insider Southpoint Capital Advisors Lp sold 1,000,000 shares of the business’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$10.35, for a total value of C$10,350,000.00. Following the transaction, the insider directly owned 2,744,741 shares in the company, valued at C$28,408,069.35. The trade was a 26.70% decrease in their ownership of the stock. Also, Director Rostislav Christov Raykov purchased 15,598 shares of Fennec Pharmaceuticals stock in a transaction on Monday, February 2nd. The stock was purchased at an average price of C$3.37 per share, for a total transaction of C$52,565.26. Following the completion of the transaction, the director owned 2,719,643 shares of the company’s stock, valued at approximately C$9,165,196.91. This represents a 0.58% increase in their ownership of the stock. 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.