Franklin Resources Inc. Grows Holdings in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

Franklin Resources Inc. grew its stake in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 18.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,799 shares of the company’s stock after buying an additional 2,330 shares during the quarter. Franklin Resources Inc.’s holdings in Fennec Pharmaceuticals were worth $74,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. WINTON GROUP Ltd bought a new position in Fennec Pharmaceuticals in the second quarter valued at $409,000. Advantage Alpha Capital Partners LP purchased a new position in shares of Fennec Pharmaceuticals in the 3rd quarter worth about $264,000. Barclays PLC boosted its holdings in shares of Fennec Pharmaceuticals by 274.3% in the 3rd quarter. Barclays PLC now owns 31,319 shares of the company’s stock worth $157,000 after purchasing an additional 22,951 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Fennec Pharmaceuticals by 42.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock valued at $420,000 after purchasing an additional 20,602 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Fennec Pharmaceuticals during the 2nd quarter valued at about $69,000. 55.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FENC. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Fennec Pharmaceuticals in a research note on Tuesday, December 17th. Finally, Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a research report on Friday, December 20th.

Fennec Pharmaceuticals Price Performance

FENC opened at $6.29 on Friday. The company has a debt-to-equity ratio of 9.86, a current ratio of 7.80 and a quick ratio of 7.64. The stock’s 50 day simple moving average is $5.42 and its 200 day simple moving average is $5.54. The firm has a market cap of $172.79 million, a price-to-earnings ratio of -62.89 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.

Insider Activity

In other news, Director Chris A. Rallis sold 6,409 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.14, for a total transaction of $39,351.26. Following the completion of the transaction, the director now directly owns 52,214 shares of the company’s stock, valued at approximately $320,593.96. This represents a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 11,042 shares of company stock valued at $61,006. 10.98% of the stock is currently owned by company insiders.

Fennec Pharmaceuticals Company Profile

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.