Fennec Pharmaceuticals Inc. (TSE:FRX – Get Free Report) insider Pierre Sayad sold 12,000 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of C$17.18, for a total value of C$206,160.00. Following the completion of the sale, the insider owned 9,519 shares in the company, valued at approximately C$163,536.42. This trade represents a 55.76% decrease in their position.
Fennec Pharmaceuticals Price Performance
FRX stock opened at C$17.10 on Thursday. Fennec Pharmaceuticals Inc. has a one year low of C$7.59 and a one year high of C$17.64. The stock has a market cap of C$599.65 million, a price-to-earnings ratio of -142.50 and a beta of 3.72. The company has a fifty day moving average price of C$15.55 and a two-hundred day moving average price of C$12.70.
Institutional Investors Weigh In On Fennec Pharmaceuticals
A hedge fund recently bought a new stake in Fennec Pharmaceuticals stock. Cornerstone Capital Inc. bought a new stake in Fennec Pharmaceuticals Inc. (TSE:FRX – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 105,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,129,000. Cornerstone Capital Inc. owned about 0.30% of Fennec Pharmaceuticals at the end of the most recent quarter. 15.40% of the stock is currently owned by institutional investors and hedge funds.
About Fennec Pharmaceuticals
Fennec Pharmaceuticals Inc is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom ( U.K. ) approval in October 2023 under the brand name PEDMARQSI®. In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, with rights to commercialize PEDMARQSI® in Europe, U.K., Australia and New Zealand.
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