SCYNEXIS (NASDAQ:SCYX) Rating Increased to Hold at StockNews.com

SCYNEXIS (NASDAQ:SCYX) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

SCYNEXIS Price Performance

Shares of SCYX stock traded down $0.02 during mid-day trading on Friday, hitting $1.31. 157,373 shares of the stock traded hands, compared to its average volume of 185,749. The stock’s fifty day moving average is $1.45 and its two-hundred day moving average is $1.80. SCYNEXIS has a 52-week low of $1.26 and a 52-week high of $3.07. The stock has a market cap of $49.60 million, a P/E ratio of -1.77 and a beta of 1.50.

SCYNEXIS (NASDAQ:SCYX) last posted its earnings results on Thursday, August 8th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). SCYNEXIS had a negative net margin of 425.41% and a negative return on equity of 63.67%. The firm had revenue of $0.74 million for the quarter. As a group, equities analysts forecast that SCYNEXIS will post -0.68 EPS for the current fiscal year.

Insider Transactions at SCYNEXIS

In other SCYNEXIS news, CEO Gonzalez David Angulo bought 20,000 shares of SCYNEXIS stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost of $1.37 per share, with a total value of $27,400.00. Following the transaction, the chief executive officer now directly owns 507,871 shares of the company’s stock, valued at approximately $695,783.27. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SCYX. Empowered Funds LLC raised its holdings in shares of SCYNEXIS by 8.1% in the first quarter. Empowered Funds LLC now owns 88,414 shares of the company’s stock worth $130,000 after buying an additional 6,650 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of SCYNEXIS by 5.4% in the 1st quarter. Acadian Asset Management LLC now owns 421,083 shares of the company’s stock valued at $618,000 after acquiring an additional 21,700 shares during the period. Finally, Vanguard Group Inc. raised its stake in SCYNEXIS by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company’s stock worth $2,481,000 after acquiring an additional 129,153 shares during the last quarter. Institutional investors and hedge funds own 54.37% of the company’s stock.

SCYNEXIS Company Profile

SCYNEXIS, Inc, a biotechnology company, develops medicines to overcome and prevent difficult-to-treat and drug-resistant infections in the United States. It offers BREXAFEMME for the treatment of patients with vulvovaginal candidiasis (VVC) and recurrent VVC. The company's lead product candidate is Ibrexafungerp, an intravenous drug for the treatment of invasive candidiasis and/or candidemia, refractory invasive fungal infections, invasive aspergillosis, VVC, and recurrent VVC.