Federated Hermes Inc. Sells 1,311,652 Shares of SCYNEXIS, Inc. $SCYX

Federated Hermes Inc. lessened its position in shares of SCYNEXIS, Inc. (NASDAQ:SCYX) by 45.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,583,348 shares of the company’s stock after selling 1,311,652 shares during the quarter. Federated Hermes Inc. owned about 3.78% of SCYNEXIS worth $1,219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCYX. Jane Street Group LLC acquired a new position in SCYNEXIS during the 2nd quarter valued at about $27,000. Sequoia Financial Advisors LLC bought a new stake in shares of SCYNEXIS during the third quarter worth approximately $41,000. Finally, Bridgeway Capital Management LLC raised its stake in shares of SCYNEXIS by 4.2% during the second 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 during the last quarter. 54.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on SCYX. Wall Street Zen raised shares of SCYNEXIS to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SCYNEXIS in a research note on Monday, December 29th. Finally, Guggenheim dropped their price objective on SCYNEXIS from $4.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, October 28th. 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.00.

SCYNEXIS Price Performance

NASDAQ SCYX opened at $0.69 on Friday. SCYNEXIS, Inc. has a one year low of $0.57 and a one year high of $1.31. The firm has a market cap of $28.98 million, a P/E ratio of -1.35 and a beta of 1.35. The stock’s 50-day moving average is $0.67 and its 200-day moving average is $0.75.

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

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.