SCYNEXIS (NASDAQ:SCYX) Rating Lowered to “Hold” at Wall Street Zen

SCYNEXIS (NASDAQ:SCYX) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

A number of other analysts also recently weighed in on SCYX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SCYNEXIS in a research report on Monday, December 29th. reissued a “buy” rating on shares of SCYNEXIS in a research report on Monday, March 9th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SCYNEXIS has a consensus rating of “Hold” and a consensus price target of $3.00.

SCYNEXIS Stock Up 4.3%

SCYX opened at $0.93 on Monday. SCYNEXIS has a 52 week low of $0.57 and a 52 week high of $1.31. The stock has a market cap of $41.64 million, a PE ratio of -5.48 and a beta of 1.33. The business has a 50 day moving average of $0.77 and a 200-day moving average of $0.76.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04). The firm had revenue of $17.20 million during the quarter, compared to analysts’ expectations of $8.10 million. SCYNEXIS had a negative return on equity of 25.52% and a negative net margin of 41.79%.

Hedge Funds Weigh In On SCYNEXIS

A number of hedge funds have recently bought and sold shares of the company. Jane Street Group LLC bought a new position in shares of SCYNEXIS during the second quarter valued at $27,000. Bridgeway Capital Management LLC increased its holdings in SCYNEXIS by 4.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after buying an additional 14,689 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in SCYNEXIS in the 3rd quarter worth about $41,000. Vanguard Group Inc. raised its position 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 buying an additional 105,600 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in SCYNEXIS by 95.2% in the 3rd quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock worth $80,000 after buying an additional 50,916 shares during the last quarter. Institutional investors own 54.37% of the company’s stock.

SCYNEXIS Company Profile

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.