Scynexis Inc. (SCYX) Stock Price Down 7%
Scynexis Inc. (NASDAQ:SCYX)’s share price traded down 7% during trading on Wednesday . The company traded as low as $3.40 and last traded at $3.43, with a volume of 583,007 shares trading hands. The stock had previously closed at $3.69.
A number of equities analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Scynexis in a report on Thursday, June 9th. Canaccord Genuity restated a “buy” rating on shares of Scynexis in a report on Thursday, June 9th. Brean Capital restated a “buy” rating on shares of Scynexis in a report on Monday, August 8th. Zacks Investment Research upgraded Scynexis from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a report on Friday, August 26th. Finally, Guggenheim assumed coverage on Scynexis in a report on Wednesday, August 17th. They set a “buy” rating and a $15.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $12.18.
The stock has a 50-day moving average price of $2.68 and a 200-day moving average price of $3.19. The stock’s market capitalization is $83.39 million.
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Scynexis (NASDAQ:SCYX) last announced its earnings results on Monday, August 8th. The company reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.52) by $0.04. Scynexis had a negative return on equity of 73.13% and a negative net margin of 12,239.31%. Analysts forecast that Scynexis Inc. will post ($2.13) EPS for the current year.
In other Scynexis news, Director Patrick Machado acquired 40,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was bought at an average price of $2.94 per share, for a total transaction of $117,600.00. Following the acquisition, the director now directly owns 60,000 shares in the company, valued at $176,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gonzalez David Angulo acquired 36,950 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were acquired at an average price of $2.22 per share, with a total value of $82,029.00. Following the acquisition, the insider now owns 8,850 shares in the company, valued at $19,647. The disclosure for this purchase can be found here. 3.91% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Granite Point Capital Management L.P. acquired a new position in Scynexis during the second quarter worth about $380,000. Private Advisor Group LLC raised its stake in shares of Scynexis by 100.0% in the second quarter. Private Advisor Group LLC now owns 200,000 shares of the company’s stock worth $434,000 after buying an additional 100,000 shares during the period. UBS Oconnor LLC purchased a new stake in shares of Scynexis during the second quarter worth $542,000. Sabby Management LLC purchased a new stake in shares of Scynexis during the second quarter worth $1,243,000. Finally, Deerfield Management Co. raised its stake in shares of Scynexis by 21.8% in the first quarter. Deerfield Management Co. now owns 848,000 shares of the company’s stock worth $3,417,000 after buying an additional 151,719 shares during the period. Institutional investors own 60.30% of the company’s stock.
Scynexis Company Profile
SCYNEXIS, Inc is engaged in the discovery, development and commercialization of anti-infectives. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of several fungal infections, including serious invasive fungal infections. SCY-078 is a structurally distinct glucan synthase inhibitor that has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species, including drug-resistant strains.
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