SCYNEXIS, Inc. (NASDAQ:SCYX) Short Interest Up 79.6% in April

SCYNEXIS, Inc. (NASDAQ:SCYX) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 2,100,787 shares, an increase of 79.6% from the April 15th total of 1,169,538 shares. Approximately 4.9% of the company’s shares are sold short. Based on an average trading volume of 380,859 shares, the days-to-cover ratio is presently 5.5 days.

SCYNEXIS Price Performance

NASDAQ:SCYX opened at $0.74 on Monday. SCYNEXIS has a 1-year low of $0.57 and a 1-year high of $1.31. The company has a 50-day moving average of $0.92 and a 200 day moving average of $0.77. The firm has a market cap of $33.05 million, a PE ratio of -1.54 and a beta of 1.12.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.32). SCYNEXIS had a negative return on equity of 57.16% and a negative net margin of 41.79%. Sell-side analysts anticipate that SCYNEXIS will post -0.2 EPS for the current fiscal year.

Institutional Trading of SCYNEXIS

A number of hedge funds have recently bought and sold shares of SCYX. Jane Street Group LLC purchased a new stake in SCYNEXIS during the second quarter worth $27,000. Bridgeway Capital Management LLC lifted its holdings in SCYNEXIS by 4.2% during the second 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. Sequoia Financial Advisors LLC purchased a new stake in SCYNEXIS during the third quarter worth $41,000. Vanguard Group Inc. lifted its holdings in SCYNEXIS by 6.4% during the third quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock worth $1,357,000 after buying an additional 105,600 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in SCYNEXIS by 95.2% during the third quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock worth $80,000 after buying an additional 50,916 shares during the period. Hedge funds and other institutional investors own 54.37% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SCYX. reaffirmed a “buy” rating on shares of SCYNEXIS in a research report on Monday, March 9th. Wall Street Zen lowered shares of SCYNEXIS from a “buy” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.00.

About SCYNEXIS

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.