Wall Street Zen Downgrades SCYNEXIS (NASDAQ:SCYX) to Buy

SCYNEXIS (NASDAQ:SCYX) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

SCYX has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of SCYNEXIS in a report on Monday, December 29th. Brookline Capital Acquisition restated a “buy” rating on shares of SCYNEXIS in a research note on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.00.

SCYNEXIS Trading Down 3.5%

SCYNEXIS stock opened at $0.86 on Friday. The company has a market capitalization of $38.35 million, a price-to-earnings ratio of -5.05 and a beta of 1.33. SCYNEXIS has a 12 month low of $0.57 and a 12 month high of $1.31. The stock’s 50 day moving average is $0.75 and its 200-day moving average is $0.76.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings results on Wednesday, March 4th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04). The firm had revenue of $17.20 million for the quarter, compared to analyst estimates of $8.10 million. SCYNEXIS had a negative return on equity of 25.52% and a negative net margin of 41.79%.

Institutional Investors Weigh In On SCYNEXIS

Large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in SCYNEXIS during the 2nd quarter worth $27,000. Sequoia Financial Advisors LLC bought a new stake in shares of SCYNEXIS during the 3rd quarter valued at $41,000. GSA Capital Partners LLP lifted its position in shares of SCYNEXIS by 95.2% during the 3rd quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock valued at $80,000 after acquiring an additional 50,916 shares during the period. Bridgeway Capital Management LLC grew its holdings in shares of SCYNEXIS by 4.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after purchasing an additional 14,689 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of SCYNEXIS by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after purchasing an additional 29,775 shares in the last quarter. Institutional investors and hedge funds own 54.37% of the company’s stock.

SCYNEXIS Company Profile

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.