SCYNEXIS (NASDAQ:SCYX) Shares Cross Below Two Hundred Day Moving Average of $2.32

Shares of SCYNEXIS, Inc. (NASDAQ:SCYXGet Rating) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.32 and traded as low as $1.76. SCYNEXIS shares last traded at $1.80, with a volume of 374,073 shares trading hands.

Wall Street Analysts Forecast Growth

SCYX has been the subject of a number of research reports. Brookline Capital Acquisition restated a “buy” rating and issued a $8.00 target price on shares of SCYNEXIS in a research note on Friday, October 21st. Maxim Group dropped their target price on SCYNEXIS from $11.00 to $7.00 in a report on Tuesday, October 25th. Finally, StockNews.com started coverage on SCYNEXIS in a report on Wednesday, October 12th. They set a “sell” rating on the stock.

SCYNEXIS Stock Performance

The company has a quick ratio of 7.81, a current ratio of 7.85 and a debt-to-equity ratio of 0.98. The stock has a market cap of $58.77 million, a price-to-earnings ratio of -1.13 and a beta of 1.83. The company’s 50-day simple moving average is $2.50 and its 200-day simple moving average is $2.32.

SCYNEXIS (NASDAQ:SCYXGet Rating) last posted its quarterly earnings results on Monday, August 15th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.04. The firm had revenue of $1.32 million for the quarter, compared to analyst estimates of $1.18 million. SCYNEXIS had a negative net margin of 1,557.60% and a negative return on equity of 169.86%. During the same quarter in the previous year, the business posted ($0.22) earnings per share. Analysts predict that SCYNEXIS, Inc. will post -1.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. D.A. Davidson & CO. grew its position in SCYNEXIS by 2.0% during the 1st quarter. D.A. Davidson & CO. now owns 293,840 shares of the company’s stock worth $1,149,000 after purchasing an additional 5,755 shares in the last quarter. Citigroup Inc. purchased a new position in SCYNEXIS during the 1st quarter worth approximately $26,000. State Street Corp grew its position in SCYNEXIS by 9.3% during the 1st quarter. State Street Corp now owns 78,630 shares of the company’s stock worth $307,000 after purchasing an additional 6,694 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in SCYNEXIS by 20.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 50,192 shares of the company’s stock worth $106,000 after purchasing an additional 8,517 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new position in SCYNEXIS during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

About SCYNEXIS

(Get Rating)

SCYNEXIS, Inc, a biotechnology company, develops products for the treatment fungal infections in the United States. It offers BREXAFEMME (ibrexafungerp tablets) for the treatment of vulvovaginal candidiasis (VVC). The company is developing its lead product candidate, Ibrexafungerp, as a novel oral and intravenous drug for the treatment of various fungal infections, including recurrent VVC, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections; and ibrexafungerp that has completed Phase 3 CANDLE study for the prevention of recurrent (VVC).

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