SCYNEXIS (NASDAQ:SCYX) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of SCYNEXIS (NASDAQ:SCYX) from a sell rating to a hold rating in a report released on Friday.

SCYNEXIS Price Performance

NASDAQ:SCYX traded down $0.02 during mid-day trading on Friday, hitting $1.31. 157,380 shares of the company’s stock were exchanged, compared to its average volume of 185,749. SCYNEXIS has a one year low of $1.26 and a one year high of $3.07. The business has a fifty day moving average price of $1.45 and a 200 day moving average price of $1.80. The company has a market cap of $49.71 million, a PE ratio of -1.77 and a beta of 1.50.

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

Insider Buying and Selling

In other news, CEO Gonzalez David Angulo bought 20,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average cost of $1.37 per share, with a total value of $27,400.00. Following the completion of the acquisition, the chief executive officer now owns 507,871 shares of the company’s stock, valued at approximately $695,783.27. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC increased its holdings in SCYNEXIS by 28.4% in the 2nd 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of SCYNEXIS by 8.3% in the first quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company’s stock worth $2,481,000 after acquiring an additional 129,153 shares during the period. Finally, Empowered Funds LLC raised its holdings 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 purchasing an additional 6,650 shares during the last quarter. Hedge funds and other institutional investors own 54.37% of the company’s stock.

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.