SCYNEXIS (NASDAQ:SCYX) Rating Increased to Buy at Wall Street Zen

SCYNEXIS (NASDAQ:SCYX) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Tuesday.

SCYX has been the subject of a number of other reports. restated a “buy” rating on shares of SCYNEXIS in a report on Monday, March 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SCYNEXIS in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, SCYNEXIS presently has a consensus rating of “Hold” and a consensus target price of $3.00.

SCYNEXIS Stock Performance

Shares of SCYX stock opened at $0.79 on Tuesday. The company has a market capitalization of $35.27 million, a price-to-earnings ratio of -4.65 and a beta of 1.32. SCYNEXIS has a one year low of $0.57 and a one year high of $1.31. The company’s 50-day moving average is $0.80 and its 200 day moving average is $0.75.

SCYNEXIS (NASDAQ:SCYX) last issued its earnings results on Wednesday, March 4th. The company reported $0.25 earnings per share (EPS) 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%.

Institutional Trading of SCYNEXIS

A number of institutional investors have recently made changes to their positions in SCYX. Jane Street Group LLC purchased a new position in shares of SCYNEXIS during the second quarter valued at approximately $27,000. Sequoia Financial Advisors LLC bought a new position in SCYNEXIS during the third quarter valued at approximately $41,000. GSA Capital Partners LLP boosted its holdings in 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 during the last quarter. Bridgeway Capital Management LLC boosted its holdings in SCYNEXIS by 4.2% in the second quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after purchasing an additional 14,689 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in SCYNEXIS by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after purchasing an additional 29,775 shares during the period. Hedge funds and other 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.