SCYNEXIS (NASDAQ:SCYX) Shares Pass Below 200-Day Moving Average – What’s Next?

SCYNEXIS, Inc. (NASDAQ:SCYX) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.29 and traded as low as $0.95. SCYNEXIS shares last traded at $0.96, with a volume of 78,332 shares traded.

Analyst Ratings Changes

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

SCYNEXIS Stock Up 0.8 %

The stock has a 50 day simple moving average of $1.12 and a 200 day simple moving average of $1.28. The company has a market cap of $36.72 million, a price-to-earnings ratio of -1.31 and a beta of 1.67.

Institutional Trading of SCYNEXIS

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AMH Equity Ltd increased its position in shares of SCYNEXIS by 4.3% during the fourth quarter. AMH Equity Ltd now owns 626,052 shares of the company’s stock worth $758,000 after acquiring an additional 26,052 shares during the last quarter. Geode Capital Management LLC increased its position 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 during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of SCYNEXIS by 22.0% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 195,393 shares of the company’s stock worth $236,000 after acquiring an additional 35,233 shares during the last quarter. Northern Trust Corp increased its position in shares of SCYNEXIS by 51.9% during the fourth quarter. Northern Trust Corp now owns 153,518 shares of the company’s stock worth $186,000 after acquiring an additional 52,466 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of SCYNEXIS during the fourth quarter worth about $53,000. 54.37% of the stock is owned by hedge funds and other institutional investors.

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.