SCYNEXIS Inc (NASDAQ:SCYX)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $0.76 and last traded at $0.77, with a volume of 1900 shares changing hands. The stock had previously closed at $0.82.
SCYX has been the subject of several recent analyst reports. HC Wainwright set a $5.00 target price on SCYNEXIS and gave the company a “buy” rating in a report on Tuesday, October 23rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $4.00 target price on shares of SCYNEXIS in a report on Tuesday, August 14th. Maxim Group set a $4.00 target price on SCYNEXIS and gave the company a “buy” rating in a report on Tuesday, November 13th. Needham & Company LLC set a $5.00 target price on SCYNEXIS and gave the company a “buy” rating in a report on Friday, August 10th. Finally, Zacks Investment Research raised SCYNEXIS from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a report on Thursday, October 11th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $4.78.
The firm has a market cap of $38.91 million, a PE ratio of -0.75 and a beta of 0.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.53 and a quick ratio of 4.53.
In other news, CEO Marco Taglietti acquired 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average price of $1.29 per share, for a total transaction of $32,250.00. Following the completion of the purchase, the chief executive officer now owns 429,000 shares in the company, valued at $553,410. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.25% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of SCYX. Stonepine Capital Management LLC purchased a new position in SCYNEXIS in the third quarter valued at approximately $539,000. Private Advisor Group LLC purchased a new position in SCYNEXIS in the third quarter valued at approximately $240,000. Renaissance Technologies LLC purchased a new position in SCYNEXIS in the second quarter valued at approximately $190,000. Kabarec Financial Advisors Ltd. purchased a new position in SCYNEXIS in the second quarter valued at approximately $130,000. Finally, BlackRock Inc. lifted its stake in SCYNEXIS by 61.5% in the second quarter. BlackRock Inc. now owns 180,751 shares of the company’s stock valued at $296,000 after purchasing an additional 68,830 shares during the last quarter. Institutional investors and hedge funds own 39.96% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “SCYNEXIS (SCYX) Hits New 1-Year Low at $0.76” was first posted by BBNS and is owned by of BBNS. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://baseballnewssource.com/2018/11/21/scynexis-scyx-hits-new-1-year-low-at-0-76/3018016.html.
About SCYNEXIS (NASDAQ:SCYX)
SCYNEXIS, Inc, a drug development company, develops and commercializes anti-infectives to address unmet therapeutic needs. It is developing its lead product candidate, SCY-078, as a novel oral and intravenous drug for the treatment of various fungal infections, including serious and life-threatening invasive fungal infections.
See Also: What is a Reverse Stock Split?
Receive News & Ratings for SCYNEXIS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SCYNEXIS and related companies with MarketBeat.com's FREE daily email newsletter.