Fennec Pharmaceuticals Inc (NASDAQ:FENC) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 386,400 shares, a growth of 12.7% from the September 30th total of 343,000 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average trading volume of 23,200 shares, the short-interest ratio is presently 16.7 days.
Several equities research analysts recently weighed in on FENC shares. ValuEngine raised shares of Fennec Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of Fennec Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a research report on Friday.
Shares of Fennec Pharmaceuticals stock traded up $0.06 on Friday, hitting $5.29. 7,000 shares of the company’s stock were exchanged, compared to its average volume of 27,058. The stock has a market capitalization of $104.25 million, a PE ratio of -10.58 and a beta of 0.14. The company has a 50-day simple moving average of $4.84 and a 200-day simple moving average of $4.37. Fennec Pharmaceuticals has a 1 year low of $3.26 and a 1 year high of $7.65.
Fennec Pharmaceuticals (NASDAQ:FENC) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.11. Equities research analysts predict that Fennec Pharmaceuticals will post -0.67 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in FENC. Wedbush Securities Inc. bought a new stake in Fennec Pharmaceuticals in the 3rd quarter valued at $57,000. Hartford Financial Management Inc. increased its holdings in shares of Fennec Pharmaceuticals by 65.0% in the 2nd quarter. Hartford Financial Management Inc. now owns 20,300 shares of the company’s stock worth $81,000 after buying an additional 8,000 shares during the last quarter. Atria Investments LLC bought a new stake in shares of Fennec Pharmaceuticals in the 2nd quarter worth about $215,000. Paloma Partners Management Co bought a new stake in shares of Fennec Pharmaceuticals in the 2nd quarter worth about $218,000. Finally, United Services Automobile Association increased its holdings in shares of Fennec Pharmaceuticals by 32.1% in the 2nd quarter. United Services Automobile Association now owns 229,983 shares of the company’s stock worth $920,000 after buying an additional 55,933 shares during the last quarter. Institutional investors own 45.40% of the company’s stock.
About Fennec Pharmaceuticals
Fennec Pharmaceuticals Inc, a biopharmaceutical company, develops product candidates for use in the treatment of cancer in the United States. Its lead product candidate is the Sodium Thiosulfate, which has completed the Phase III clinical trial for the prevention of cisplatin induced hearing loss or ototoxicity in children.
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