Adherex Technologies (NASDAQ:FENC) Director Rosty Raykov Sells 10,000 Shares

Adherex Technologies Inc. (NASDAQ:FENC) Director Rosty Raykov sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $8.10, for a total transaction of $81,000.00. Following the completion of the transaction, the director owned 82,318 shares in the company, valued at $666,775.80. This trade represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Rosty Raykov also recently made the following trade(s):

• On Monday, October 6th, Rosty Raykov sold 10,000 shares of Adherex Technologies stock. The shares were sold at an average price of $9.78, for a total transaction of $97,800.00.

Adherex Technologies Stock Performance

Shares of FENC stock traded down $0.25 on Thursday, hitting $8.00. The company’s stock had a trading volume of 63,778 shares, compared to its average volume of 77,232. The stock’s 50 day moving average is $8.84 and its 200-day moving average is $8.19. Adherex Technologies Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $9.92. The company has a market capitalization of $224.50 million, a PE ratio of -19.05 and a beta of 0.71.

Adherex Technologies (NASDAQ:FENC) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The company had revenue of $9.76 million for the quarter, compared to analyst estimates of $9.52 million. On average, research analysts forecast that Adherex Technologies Inc. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Adherex Technologies

A number of large investors have recently bought and sold shares of the company. AIGH Capital Management LLC acquired a new stake in Adherex Technologies during the first quarter worth about $2,199,000. Nuveen LLC acquired a new stake in shares of Adherex Technologies in the 1st quarter valued at approximately $158,000. Jane Street Group LLC acquired a new stake in shares of Adherex Technologies in the 1st quarter valued at approximately $90,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Adherex Technologies in the 1st quarter valued at approximately $66,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Craig Hallum upped their price target on shares of Adherex Technologies from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Zacks Research downgraded shares of Adherex Technologies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Adherex Technologies in a research note on Thursday, August 21st. Wall Street Zen upgraded shares of Adherex Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.33.

About Adherex Technologies

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.