SCYNEXIS (NASDAQ:SCYX) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

SCYNEXIS, Inc. (NASDAQ:SCYX)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.67 and traded as low as $1.12. SCYNEXIS shares last traded at $1.14, with a volume of 170,573 shares trading hands.

Wall Street Analyst Weigh In

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

SCYNEXIS Stock Up 2.7 %

The firm has a market capitalization of $43.26 million, a P/E ratio of -1.54 and a beta of 1.50. The firm’s 50-day simple moving average is $1.34 and its 200-day simple moving average is $1.67.

SCYNEXIS (NASDAQ:SCYX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.14. The firm 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%. As a group, analysts expect that SCYNEXIS, Inc. will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of SCYNEXIS by 8.3% during 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 in the last quarter. Acadian Asset Management LLC raised its stake in shares of 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 acquiring an additional 119,600 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of SCYNEXIS by 10.0% during the third quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock worth $594,000 after acquiring an additional 36,405 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of SCYNEXIS during the third quarter worth approximately $25,000. 54.37% of the stock is owned by hedge funds and other 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.