Stonepine Capital Management LLC Invests $1.35 Million in SCYNEXIS, Inc. (NASDAQ:SCYX)

Stonepine Capital Management LLC purchased a new position in shares of SCYNEXIS, Inc. (NASDAQ:SCYX) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 450,000 shares of the company’s stock, valued at approximately $1,350,000. SCYNEXIS makes up approximately 0.5% of Stonepine Capital Management LLC’s portfolio, making the stock its 20th biggest position. Stonepine Capital Management LLC owned about 1.23% of SCYNEXIS as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of SCYNEXIS during the 1st quarter worth about $61,000. Spire Wealth Management bought a new stake in shares of SCYNEXIS during the 1st quarter worth about $26,000. Simplicity Solutions LLC bought a new stake in shares of SCYNEXIS during the 1st quarter worth about $60,000. AMH Equity Ltd bought a new stake in SCYNEXIS during the 1st quarter valued at approximately $750,000. Finally, D.A. Davidson & CO. boosted its stake in SCYNEXIS by 25.1% during the 1st quarter. D.A. Davidson & CO. now owns 304,696 shares of the company’s stock valued at $914,000 after purchasing an additional 61,069 shares during the period. Institutional investors own 49.87% of the company’s stock.

SCYNEXIS Price Performance

Shares of SCYX stock opened at $3.32 on Friday. The stock has a 50 day moving average of $3.00 and a two-hundred day moving average of $2.69. The company has a current ratio of 9.01, a quick ratio of 8.37 and a debt-to-equity ratio of 0.12. SCYNEXIS, Inc. has a 12 month low of $1.15 and a 12 month high of $3.87. The company has a market capitalization of $123.44 million, a P/E ratio of 3.95 and a beta of 2.14.

SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings data on Monday, August 14th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $1.43. SCYNEXIS had a return on equity of 317.92% and a net margin of 32.71%. The company had revenue of $131.45 million during the quarter, compared to the consensus estimate of $91.50 million. As a group, equities analysts expect that SCYNEXIS, Inc. will post 2.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SCYX. TheStreet upgraded SCYNEXIS from a “d-” rating to a “c+” rating in a research note on Wednesday, August 23rd. StockNews.com upgraded SCYNEXIS from a “sell” rating to a “buy” rating in a research note on Wednesday, August 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $15.00 target price on shares of SCYNEXIS in a research note on Tuesday, August 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, SCYNEXIS currently has a consensus rating of “Buy” and an average price target of $11.40.

SCYNEXIS Profile

SCYNEXIS, Inc, a biotechnology company, develops products for the treatment of fungal infections in the United States. It offers BREXAFEMME for the treatment of vulvovaginal candidiasis (VVC) and recurrent VVC. The company's lead product candidate is Ibrexafungerp, an intravenous drug for the treatment of various fungal infections, including invasive candidiasis, refractory invasive fungal infections, invasive aspergillosis, VVC, and recurrent VVC.