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

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

SCYNEXIS Stock Performance

NASDAQ SCYX traded down $0.02 on Friday, hitting $1.31. 157,373 shares of the stock were exchanged, compared to its average volume of 185,749. SCYNEXIS has a 52-week low of $1.26 and a 52-week high of $3.07. The firm has a market capitalization of $49.60 million, a P/E ratio of -1.77 and a beta of 1.50. The stock has a fifty day moving average price of $1.45 and a two-hundred day moving average price of $1.80.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The firm had revenue of $0.74 million for the quarter. SCYNEXIS had a negative net margin of 425.41% and a negative return on equity of 63.67%. Sell-side analysts expect that SCYNEXIS will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SCYNEXIS news, CEO Gonzalez David Angulo acquired 20,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were bought at an average price 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 $695,783.27. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 2.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SCYNEXIS

A number of hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its stake in shares of SCYNEXIS by 8.1% during the first quarter. Empowered Funds LLC now owns 88,414 shares of the company’s stock valued at $130,000 after acquiring an additional 6,650 shares in the last quarter. Acadian Asset Management LLC increased its holdings in SCYNEXIS by 5.4% during 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 during the period. Finally, Vanguard Group Inc. raised its position in SCYNEXIS by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company’s stock valued at $2,481,000 after purchasing an additional 129,153 shares in the last quarter. 54.37% of the stock is currently owned by institutional investors.

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.