State Street Corp Purchases 7,053 Shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC)

State Street Corp increased its holdings in Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 2.2% in the 3rd quarter, Holdings Channel reports. The fund owned 328,259 shares of the company’s stock after buying an additional 7,053 shares during the quarter. State Street Corp’s holdings in Fennec Pharmaceuticals were worth $1,641,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FENC. Bank of New York Mellon Corp raised its stake in Fennec Pharmaceuticals by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock valued at $420,000 after buying an additional 20,602 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Fennec Pharmaceuticals by 44.7% in the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock worth $178,000 after acquiring an additional 8,987 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Fennec Pharmaceuticals in the second quarter worth approximately $49,000. WINTON GROUP Ltd bought a new position in shares of Fennec Pharmaceuticals in the second quarter worth about $409,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Fennec Pharmaceuticals during the second quarter valued at approximately $69,000. 55.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fennec Pharmaceuticals

In other Fennec Pharmaceuticals news, Director Chris A. Rallis sold 6,409 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.14, for a total value of $39,351.26. Following the transaction, the director now owns 52,214 shares in the company, valued at approximately $320,593.96. This trade represents a 10.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 11,042 shares of company stock valued at $61,006. Company insiders own 10.98% of the company’s stock.

Wall Street Analyst Weigh In

FENC has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Tuesday, December 17th. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Friday, December 20th.

Fennec Pharmaceuticals Stock Performance

Shares of NASDAQ FENC opened at $6.32 on Thursday. The company’s fifty day moving average price is $5.38 and its 200 day moving average price is $5.54. The company has a market capitalization of $173.61 million, a PE ratio of -63.19 and a beta of 0.35. Fennec Pharmaceuticals Inc has a 1 year low of $3.96 and a 1 year high of $11.49. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.64 and a current ratio of 7.80.

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.