SCYNEXIS (NASDAQ:SCYX) Share Price Passes Below 200-Day Moving Average of $1.83

SCYNEXIS, Inc. (NASDAQ:SCYX)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.83 and traded as low as $1.33. SCYNEXIS shares last traded at $1.34, with a volume of 156,132 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered SCYNEXIS from a “hold” rating to a “sell” rating in a research note on Monday, August 12th.

SCYNEXIS Price Performance

The firm’s 50-day moving average price is $1.80 and its 200-day moving average price is $1.82. The stock has a market cap of $55.28 million, a P/E ratio of 0.72 and a beta of 1.50.

SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). SCYNEXIS had a negative net margin of 366.09% and a negative return on equity of 57.41%. The company had revenue of $0.74 million during the quarter. Sell-side analysts expect that SCYNEXIS, Inc. will post -0.68 earnings per share for the current year.

Hedge Funds Weigh In On SCYNEXIS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Decheng Capital LLC bought a new stake in SCYNEXIS in the 4th quarter worth approximately $1,239,000. Empowered Funds LLC increased its position in SCYNEXIS by 8.1% in the first quarter. Empowered Funds LLC now owns 88,414 shares of the company’s stock worth $130,000 after purchasing an additional 6,650 shares during the last quarter. D.A. Davidson & CO. raised its stake in SCYNEXIS by 8.3% during the fourth quarter. D.A. Davidson & CO. now owns 526,490 shares of the company’s stock valued at $1,174,000 after purchasing an additional 40,164 shares in the last quarter. Acadian Asset Management LLC lifted its position in SCYNEXIS by 5.4% during the first quarter. Acadian Asset Management LLC now owns 421,083 shares of the company’s stock valued at $618,000 after purchasing an additional 21,700 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of SCYNEXIS by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company’s stock worth $2,481,000 after buying an additional 129,153 shares in the last quarter. 54.37% of the stock is 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.