SCYNEXIS (NASDAQ:SCYX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “SCYNEXIS, Inc. is a pharmaceutical company. It is engaged in the discovery, development, and commercialization of anti-infectives to address unmet therapeutic needs. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of serious and life-threatening invasive fungal infections in humans. It also provides contract research and development services. SCYNEXIS, Inc. is headquartered in Durham, North Carolina. “

SCYX has been the subject of a number of other research reports. ValuEngine lowered SCYNEXIS from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Guggenheim started coverage on SCYNEXIS in a research report on Tuesday, October 24th. They set a “buy” rating and a $6.00 price objective for the company. Roth Capital set a $9.00 price objective on SCYNEXIS and gave the company a “buy” rating in a research report on Monday, August 7th. Finally, HC Wainwright set a $14.00 price objective on SCYNEXIS and gave the company a “buy” rating in a research report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $8.43.

SCYNEXIS (NASDAQ:SCYX) opened at $2.06 on Friday. The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.43. SCYNEXIS has a 12-month low of $1.52 and a 12-month high of $3.82.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP grew its position in SCYNEXIS by 17.1% in the third quarter. GSA Capital Partners LLP now owns 206,900 shares of the company’s stock worth $499,000 after acquiring an additional 30,200 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in SCYNEXIS in the third quarter worth about $264,000. National Asset Management Inc. purchased a new position in SCYNEXIS in the second quarter worth about $551,000. DAFNA Capital Management LLC grew its position in SCYNEXIS by 32.7% in the second quarter. DAFNA Capital Management LLC now owns 506,900 shares of the company’s stock worth $907,000 after acquiring an additional 125,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in SCYNEXIS by 6.0% in the second quarter. Vanguard Group Inc. now owns 868,394 shares of the company’s stock worth $1,554,000 after acquiring an additional 48,978 shares in the last quarter. Institutional investors own 31.16% of the company’s stock.

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About SCYNEXIS

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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