SCYNEXIS (SCYX) Hits New 1-Year Low at $0.76

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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.

SCYNEXIS (NASDAQ:SCYX) last released its earnings results on Tuesday, November 13th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.18. The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.06 million. SCYNEXIS had a negative return on equity of 102.52% and a negative net margin of 8,592.97%. On average, equities analysts predict that SCYNEXIS Inc will post -0.78 EPS for the current fiscal year.

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.

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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.

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