SCYNEXIS’s Quiet Period Set To End Tomorrow (NASDAQ:SCYX)
SCYNEXIS’s (NASDAQ:SCYX) quiet period is set to end on Wednesday, June 11th. SCYNEXIS had issued 6,200,000 shares in its public offering on May 2nd, Analyst Ratings Network reports. The total size of the offering was $62,000,000 based on an initial share price of $10.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of analysts have recently weighed in on SCYX shares. Analysts at JMP Securities initiated coverage on shares of SCYNEXIS in a research note on Monday, June 2nd. They set an “outperform” rating and a $15.00 price target on the stock. Separately, analysts at Canaccord Genuity initiated coverage on shares of SCYNEXIS in a research note on Thursday, May 29th. They set a “buy” rating and a $18.00 price target on the stock. Finally, analysts at RBC Capital initiated coverage on shares of SCYNEXIS in a research note on Thursday, May 29th. They set an “outperform” rating and a $17.00 price target on the stock.
SCYNEXIS (NASDAQ:SCYX) traded up 0.60% on Tuesday, hitting $8.40. The stock had a trading volume of 33,400 shares. SCYNEXIS has a 1-year low of $7.92 and a 1-year high of $9.84. The stock has a 50-day moving average of $8.76 and a 200-day moving average of $8.76. The company’s market cap is $71.0 million.
SCYNEXIS, Inc is a pharmaceutical company committed to the discovery, development and commercialization of anti-infectives to address unmet therapeutic needs.
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