The market has been high on Fennec Pharmaceuticals Inc (FENC) stock recently. FENC gets a Bullish score from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.
As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With FENC Stock Today?
Fennec Pharmaceuticals Inc (FENC) stock is trading at $9.60 as of 10:53 AM on Monday, Aug 10, a rise of $0.59, or 6.55% from the previous closing price of $9.01. The stock has traded between $9.33 and $9.93 so far today. Volume today is above average. So far 617,926 shares have traded compared to average volume of 393,394 shares.
More About Fennec Pharmaceuticals Inc
Fennec Pharmaceuticals Inc is a clinical-stage biotechnology company. It is primarily engaged in research and development activities. The company is developing Sodium Thiosulfate (STS), a chemo-protectant against hearing loss associated with platinum-based chemotherapy. Its lead product candidate is PEDMARK which is sodium thiosulfate in a novel formulation for the prevention of cisplatin induced hearing loss, or ototoxicity in children.