SCYNEXIS (NASDAQ:SCYX) Share Price Crosses Below 200 Day Moving Average of $1.78

SCYNEXIS, Inc. (NASDAQ:SCYX)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.78 and traded as low as $1.39. SCYNEXIS shares last traded at $1.44, with a volume of 130,980 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SCYX. Cantor Fitzgerald reiterated an “overweight” rating on shares of SCYNEXIS in a report on Monday, April 1st. StockNews.com lowered shares of SCYNEXIS from a “buy” rating to a “hold” rating in a report on Monday, March 18th.

SCYNEXIS Trading Up 2.5 %

The firm has a market cap of $54.36 million, a price-to-earnings ratio of 1.09 and a beta of 1.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.26 and a quick ratio of 6.26. The firm’s fifty day moving average is $1.59 and its 200-day moving average is $1.78.

Hedge Funds Weigh In On SCYNEXIS

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in SCYNEXIS in the third quarter valued at $673,000. O Shaughnessy Asset Management LLC acquired a new position in SCYNEXIS in the third quarter valued at $94,000. TFB Advisors LLC acquired a new position in SCYNEXIS in the fourth quarter valued at $27,000. Park Avenue Securities LLC acquired a new position in SCYNEXIS in the third quarter valued at $32,000. Finally, D.A. Davidson & CO. increased its stake in SCYNEXIS by 34.0% in the third quarter. D.A. Davidson & CO. now owns 486,326 shares of the company’s stock valued at $1,109,000 after purchasing an additional 123,325 shares in the last quarter. Institutional investors and hedge funds 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.