SCYNEXIS (NASDAQ:SCYX) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

SCYNEXIS, Inc. (NASDAQ:SCYX)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.75 and traded as low as $0.6545. SCYNEXIS shares last traded at $0.7559, with a volume of 1,328,305 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SCYX. Guggenheim decreased their target price on shares of SCYNEXIS from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of SCYNEXIS in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded SCYNEXIS to a “hold” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.00.

SCYNEXIS Trading Up 13.1%

The business’s fifty day moving average price is $0.64 and its two-hundred day moving average price is $0.75. The firm has a market cap of $31.73 million, a P/E ratio of -1.48 and a beta of 1.34.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.04. SCYNEXIS had a negative net margin of 862.89% and a negative return on equity of 60.54%. The firm had revenue of $0.33 million during the quarter, compared to analysts’ expectations of $0.15 million.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP grew its holdings in SCYNEXIS by 95.2% during the third quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock valued at $80,000 after purchasing an additional 50,916 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of SCYNEXIS by 6.4% in the third quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock worth $1,357,000 after buying an additional 105,600 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of SCYNEXIS during the 3rd quarter worth $41,000. Bridgeway Capital Management LLC grew its stake in SCYNEXIS by 4.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock valued at $248,000 after buying an additional 14,689 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in SCYNEXIS in the 2nd quarter valued at $27,000. 54.37% of the stock is owned by institutional investors.

About SCYNEXIS

SCYNEXIS, Inc is a late‐stage biopharmaceutical company focused on developing and commercializing novel anti‐infective therapies. Headquartered in Jersey City, New Jersey, the company’s primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS’s scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company’s lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.