SCYNEXIS (NASDAQ:SCYX) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

SCYNEXIS (NASDAQ:SCYX) announced its quarterly earnings data on Wednesday. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04), FiscalAI reports. SCYNEXIS had a negative return on equity of 60.54% and a negative net margin of 862.89%.The business had revenue of $17.20 million during the quarter, compared to analysts’ expectations of $8.10 million.

SCYNEXIS Trading Up 3.1%

NASDAQ SCYX traded up $0.02 during trading on Wednesday, reaching $0.78. The company’s stock had a trading volume of 387,874 shares, compared to its average volume of 409,808. The stock has a market capitalization of $32.53 million, a PE ratio of -1.52 and a beta of 1.33. SCYNEXIS has a 1-year low of $0.57 and a 1-year high of $1.31. The business has a 50-day moving average price of $0.71 and a 200-day moving average price of $0.75.

Hedge Funds Weigh In On SCYNEXIS

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. bought a new stake in SCYNEXIS during the fourth quarter worth approximately $1,255,000. Vanguard Group Inc. grew its position in shares of SCYNEXIS by 6.4% in the third quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock valued at $1,357,000 after purchasing an additional 105,600 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of SCYNEXIS by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after purchasing an additional 29,775 shares during the period. Bridgeway Capital Management LLC increased its position in SCYNEXIS by 4.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after buying an additional 14,689 shares during the period. Finally, Jane Street Group LLC bought a new position in SCYNEXIS during the second quarter worth $27,000. 54.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of SCYNEXIS in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.00.

SCYNEXIS Company Profile

SCYNEXIS, Inc is a late‐stage biopharmaceutical company focused on developing and commercializing novel anti‐infective therapies. Headquartered in Jersey City, New Jersey, the company’s primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS’s scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company’s lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.