SCYNEXIS (NASDAQ:SCYX) Downgraded to Sell Rating by StockNews.com

SCYNEXIS (NASDAQ:SCYX) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

SCYNEXIS Price Performance

Shares of SCYX traded down $0.05 during mid-day trading on Thursday, reaching $0.86. The company’s stock had a trading volume of 312,996 shares, compared to its average volume of 201,533. SCYNEXIS has a 12-month low of $0.82 and a 12-month high of $3.07. The stock has a market cap of $32.57 million, a PE ratio of -1.16 and a beta of 1.67. The company’s 50 day moving average is $1.09 and its 200 day moving average is $1.26.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings data on Wednesday, March 12th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.13. SCYNEXIS had a negative return on equity of 66.21% and a negative net margin of 425.41%. The business had revenue of $0.98 million for the quarter.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in SCYNEXIS by 10.0% during the 3rd quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock worth $594,000 after buying an additional 36,405 shares during the last quarter. AMH Equity Ltd grew its stake in SCYNEXIS by 4.3% during the 4th quarter. AMH Equity Ltd now owns 626,052 shares of the company’s stock worth $758,000 after buying an additional 26,052 shares during the last quarter. XTX Topco Ltd purchased a new position in SCYNEXIS during the 3rd quarter worth approximately $25,000. Millennium Management LLC purchased a new position in SCYNEXIS during the 4th quarter worth approximately $31,000. Finally, Squarepoint Ops LLC purchased a new position in SCYNEXIS during the 4th quarter worth approximately $53,000. 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.