Fennec Pharmaceuticals (TSE:FRX) Sets New 12-Month High – Should You Buy?

Fennec Pharmaceuticals Inc. (TSE:FRX)’s share price hit a new 52-week high during trading on Friday . The company traded as high as C$15.60 and last traded at C$15.60, with a volume of 175 shares trading hands. The stock had previously closed at C$14.88.

Fennec Pharmaceuticals Stock Performance

The company’s 50-day moving average price is C$14.01 and its 200 day moving average price is C$11.68. The stock has a market capitalization of C$541.90 million, a PE ratio of -53.79 and a beta of 3.55.

Insiders Place Their Bets

In related news, Director Chris Anigeron Rallis sold 8,346 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$9.67, for a total transaction of C$80,705.82. Following the completion of the transaction, the director owned 61,314 shares of the company’s stock, valued at C$592,906.38. This trade represents a 11.98% decrease in their position. Also, Director Rostislav Christov Raykov sold 9,747 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of C$13.23, for a total value of C$128,952.81. Following the transaction, the director owned 2,746,104 shares of the company’s stock, valued at C$36,330,955.92. The trade was a 0.35% decrease in their ownership of the stock. Insiders own 16.20% of the company’s stock.

Institutional Trading of Fennec Pharmaceuticals

A hedge fund recently bought a new position in Fennec Pharmaceuticals stock. Cornerstone Capital Inc. acquired a new stake in shares of Fennec Pharmaceuticals Inc. (TSE:FRX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 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 reporting period. Institutional investors own 14.40% of the company’s stock.

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.