Insider Buying: SCYNEXIS, Inc. (SCYX) CEO Buys 10,000 Shares of Stock
SCYNEXIS, Inc. (NASDAQ:SCYX) CEO Marco Taglietti purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average price of $1.61 per share, with a total value of $16,100.00. Following the completion of the acquisition, the chief executive officer now owns 287,000 shares of the company’s stock, valued at $462,070. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of SCYNEXIS, Inc. (NASDAQ SCYX) traded down 0.58% during trading on Thursday, reaching $1.70. The company’s stock had a trading volume of 34,341 shares. The firm’s market cap is $45.43 million. SCYNEXIS, Inc. has a 12 month low of $1.52 and a 12 month high of $5.51. The company’s 50 day moving average price is $1.76 and its 200 day moving average price is $2.31.
Several large investors have recently made changes to their positions in the stock. Iguana Healthcare Management LLC raised its stake in shares of SCYNEXIS by 20.0% in the first quarter. Iguana Healthcare Management LLC now owns 300,000 shares of the company’s stock valued at $828,000 after buying an additional 50,000 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of SCYNEXIS by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 37,523 shares of the company’s stock valued at $103,000 after buying an additional 512 shares during the last quarter. KCG Holdings Inc. acquired a new stake in shares of SCYNEXIS during the first quarter valued at approximately $416,000. Private Advisor Group LLC acquired a new stake in shares of SCYNEXIS during the first quarter valued at approximately $555,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of SCYNEXIS during the first quarter valued at approximately $154,000. Institutional investors own 48.53% of the company’s stock.
SCYX has been the subject of a number of recent research reports. Zacks Investment Research upgraded SCYNEXIS from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a research note on Wednesday, August 2nd. Aegis restated a “buy” rating on shares of SCYNEXIS in a research note on Tuesday, May 30th. Needham & Company LLC lowered SCYNEXIS from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Roth Capital set a $9.00 price objective on SCYNEXIS and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, HC Wainwright set a $14.00 price objective on SCYNEXIS and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $10.22.
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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