Advantage Alpha Capital Partners LP Makes New Investment in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

Advantage Alpha Capital Partners LP bought a new stake in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) during the 3rd quarter, Holdings Channel reports. The fund bought 52,876 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. WINTON GROUP Ltd purchased a new position in Fennec Pharmaceuticals during the 2nd quarter valued at $409,000. Russell Investments Group Ltd. boosted its stake in shares of Fennec Pharmaceuticals by 71,275.0% during the 1st quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock valued at $381,000 after purchasing an additional 34,212 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 period. The Manufacturers Life Insurance Company purchased a new position in shares of Fennec Pharmaceuticals during the second quarter valued at about $69,000. Finally, Rhumbline Advisers raised its stake in 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 buying an additional 8,987 shares in the last quarter. Institutional investors own 55.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FENC shares. Wedbush reaffirmed an “outperform” rating and set a $13.00 price objective (down from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th. Craig Hallum reduced their price target on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a research report on Monday, November 18th. Finally, HC Wainwright reduced their target price on shares of Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd.

Fennec Pharmaceuticals Stock Performance

Fennec Pharmaceuticals stock opened at $6.04 on Wednesday. Fennec Pharmaceuticals Inc has a twelve month low of $3.96 and a twelve month high of $11.92. The company has a quick ratio of 7.64, a current ratio of 7.80 and a debt-to-equity ratio of 9.86. The company has a market capitalization of $165.67 million, a P/E ratio of -60.40 and a beta of 0.27. The stock’s 50 day moving average is $4.66 and its 200 day moving average is $5.73.

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.