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Fennec Pharmaceuticals, Inc. (NASDAQ:) Chief Financial Officer Robert Andrade sold a total of $153,690 worth of company stock, according to a recent SEC filing. The transaction took place on March 25, 2024, with shares sold at a price of $10.9975 per share.
Recent sales by the CFO of Fennec Pharmaceuticals included 13,975 shares of common stock. After the transaction, Mr. Andrade's remaining holdings in the company will be 105,746 shares. The filing states that the shares were sold pursuant to a 10b5-1 trading plan adopted on August 16, 2023. 10b5-1 plans allow company insiders to set a predetermined schedule to sell stock at other times. Possesses material non-public information and provides defense against insider trading claims.
Investors often focus on insider transactions because they can glean from management's confidence in a company's future performance. However, sales under 10b5-1 plans are pre-planned and may negate the impact of management's market outlook.
Fennec Pharmaceuticals is a biotechnology company specializing in biological products and its stock is publicly traded under the ticker FENC. The company is incorporated in Canada and operates primarily from Research Triangle Park, North Carolina.
Details of the transaction were announced as insider trading activity is closely monitored by investors looking for clues about a company's financial health and prospects. It's worth noting that insider buying and selling can be influenced by a variety of factors, and doesn't necessarily indicate a change in the fundamentals of a company.
Investment Pro Insights
Fennec Pharmaceuticals Inc. (NASDAQ:FENC) has attracted the attention of both investors and analysts due to its noteworthy financial metrics and market performance. The company's recent data provided by InvestingPro shows an impressive revenue growth of 1284.5% over the past 12 months as of Q4 2023, reflecting a significant jump in sales. This is in line with InvestingPro's tip that analysts are expecting revenue growth for the current fiscal year. Fennec's gross profit margin for the same period was a solid 94.08%, which indicates a very efficient operation and is consistent with another of his InvestingPro tips that highlight the company's impressive gross profit margin. Masu.
Despite not paying any dividends to shareholders, Fennec Pharmaceuticals has a total price return of 22.22% over the last month, and an even more impressive return of 49.66% over the past 6 months. This performance may be of interest to investors looking for capital gains rather than income. The company's market capitalization is currently $297.43 million, which gives an idea of its size in the pharmaceutical industry.
For those looking for more in-depth analysis and additional insights, InvestingPro offers a wealth of information including 10 InvestingPro Tips about Fennec Pharmaceuticals. This information can be accessed through the firm's dedicated InvestingPro page (https://www.investing.com/pro). /FENC. Investors interested in leveraging these insights can enjoy an additional 10% off annual or biennial Pro and Pro+ subscriptions using the coupon code. pro news 24.
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