SCYNEXIS (NASDAQ:SCYX) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

SCYNEXIS, Inc. (NASDAQ:SCYX) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.81 and traded as low as $1.32. SCYNEXIS shares last traded at $1.32, with a volume of 90,434 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of SCYNEXIS from a “hold” rating to a “sell” rating in a report on Monday, August 12th.

SCYNEXIS Price Performance

The stock has a market cap of $49.98 million, a price-to-earnings ratio of -1.83 and a beta of 1.50. The firm’s fifty day moving average price is $1.46 and its two-hundred day moving average price is $1.81.

SCYNEXIS (NASDAQ:SCYX) last posted its earnings results on Thursday, August 8th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). SCYNEXIS had a negative return on equity of 57.41% and a negative net margin of 366.09%. The business had revenue of $0.74 million during the quarter. On average, equities research analysts anticipate that SCYNEXIS, Inc. will post -0.68 earnings per share for the current year.

Insider Buying and Selling

In other SCYNEXIS news, CEO Gonzalez David Angulo bought 20,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average price of $1.37 per share, for a total transaction of $27,400.00. Following the acquisition, the chief executive officer now directly owns 507,871 shares of the company’s stock, valued at approximately $695,783.27. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SCYNEXIS

A number of institutional investors have recently added to or reduced their stakes in SCYX. Empowered Funds LLC grew its position in SCYNEXIS by 8.1% in the 1st quarter. Empowered Funds LLC now owns 88,414 shares of the company’s stock worth $130,000 after purchasing an additional 6,650 shares in the last quarter. Acadian Asset Management LLC grew its position in SCYNEXIS by 5.4% in the 1st quarter. Acadian Asset Management LLC now owns 421,083 shares of the company’s stock worth $618,000 after purchasing an additional 21,700 shares in the last quarter. AMH Equity Ltd grew its position in SCYNEXIS by 19.9% in the 1st quarter. AMH Equity Ltd now owns 660,000 shares of the company’s stock worth $970,000 after purchasing an additional 109,600 shares in the last quarter. Finally, Vanguard Group Inc. grew its position 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 purchasing an additional 129,153 shares in the last quarter. 54.37% of the stock is owned by institutional investors.

About SCYNEXIS

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.