SCYNEXIS (NASDAQ:SCYX) Share Price Passes Below Two Hundred 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 $0.75 and traded as low as $0.6545. SCYNEXIS shares last traded at $0.7559, with a volume of 1,328,305 shares traded.

Analyst Upgrades and Downgrades

SCYX has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SCYNEXIS in a research note on Monday, December 29th. Wall Street Zen raised shares of SCYNEXIS to a “hold” rating in a report on Saturday, October 25th. Finally, Guggenheim reduced their price objective on shares of SCYNEXIS from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.00.

SCYNEXIS Stock Up 13.1%

The company has a market capitalization of $31.73 million, a PE ratio of -1.48 and a beta of 1.34. The business’s 50 day simple moving average is $0.64 and its 200 day simple moving average is $0.75.

SCYNEXIS (NASDAQ:SCYX) last released its earnings results on Wednesday, November 5th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.04. The business had revenue of $0.33 million for the quarter, compared to the consensus estimate of $0.15 million. SCYNEXIS had a negative net margin of 862.89% and a negative return on equity of 60.54%.

Institutional Trading of SCYNEXIS

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in SCYNEXIS by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock worth $1,357,000 after acquiring an additional 105,600 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of SCYNEXIS by 4.2% in the 2nd 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 period. GSA Capital Partners LLP lifted its position in shares of SCYNEXIS by 95.2% in the third quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock worth $80,000 after purchasing an additional 50,916 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of SCYNEXIS in the third quarter worth approximately $41,000. Finally, Jane Street Group LLC acquired a new stake in shares of SCYNEXIS during the second quarter worth approximately $27,000. Institutional investors and hedge funds own 54.37% of the company’s stock.

About SCYNEXIS

SCYNEXIS, Inc is a late‐stage biopharmaceutical company focused on developing and commercializing novel anti‐infective therapies. Headquartered in Jersey City, New Jersey, the company’s primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS’s scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company’s lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.