SCYNEXIS (NASDAQ:SCYX) Stock Rating Upgraded by Wall Street Zen

SCYNEXIS (NASDAQ:SCYX) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of SCYNEXIS in a research note on Tuesday, October 14th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

SCYNEXIS Stock Performance

Shares of SCYNEXIS stock opened at $0.77 on Friday. The firm has a market cap of $32.28 million, a P/E ratio of -1.92 and a beta of 1.68. SCYNEXIS has a 12 month low of $0.66 and a 12 month high of $1.49. The stock’s fifty day moving average price is $0.89 and its 200-day moving average price is $0.85.

SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.09. The firm had revenue of $1.36 million for the quarter, compared to analyst estimates of $0.15 million. SCYNEXIS had a negative return on equity of 43.04% and a negative net margin of 599.05%.

Hedge Funds Weigh In On SCYNEXIS

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in SCYNEXIS in the second quarter valued at about $27,000. Tabor Asset Management LP purchased a new position in SCYNEXIS in the first quarter valued at about $181,000. Finally, Bridgeway Capital Management LLC grew its stake in SCYNEXIS by 4.2% in the second quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock valued at $248,000 after purchasing an additional 14,689 shares during the last quarter. Hedge funds and other institutional investors own 54.37% of the company’s stock.

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.