SCYNEXIS, Inc. (NASDAQ:SCYX) Sees Significant Decline in Short Interest

SCYNEXIS, Inc. (NASDAQ:SCYX) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 678,500 shares, a decline of 14.7% from the November 30th total of 795,400 shares. Based on an average daily volume of 163,900 shares, the short-interest ratio is currently 4.1 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded SCYNEXIS from a “sell” rating to a “hold” rating in a research report on Friday, November 8th.

Institutional Investors Weigh In On SCYNEXIS

A number of institutional investors have recently added to or reduced their stakes in SCYX. Geode Capital Management LLC grew its holdings in shares of SCYNEXIS by 10.0% during the 3rd quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock worth $594,000 after purchasing an additional 36,405 shares during the period. XTX Topco Ltd acquired a new position in SCYNEXIS during the third quarter valued at approximately $25,000. Finally, Acadian Asset Management LLC grew its stake in SCYNEXIS by 28.4% during the second quarter. Acadian Asset Management LLC now owns 540,683 shares of the company’s stock worth $1,080,000 after buying an additional 119,600 shares during the period. Hedge funds and other institutional investors own 54.37% of the company’s stock.

SCYNEXIS Stock Down 2.0 %

Shares of SCYX traded down $0.02 during mid-day trading on Friday, hitting $1.00. The company had a trading volume of 256,526 shares, compared to its average volume of 188,280. SCYNEXIS has a 1-year low of $0.90 and a 1-year high of $3.07. The business’s 50-day simple moving average is $1.24 and its 200-day simple moving average is $1.58. The stock has a market cap of $37.92 million, a PE ratio of -1.35 and a beta of 1.50.

SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.14. The company had revenue of $0.66 million for the quarter. SCYNEXIS had a negative net margin of 425.41% and a negative return on equity of 66.21%. On average, sell-side analysts expect that SCYNEXIS will post -0.55 earnings per share for the current year.

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.