SCYNEXIS (NASDAQ:SCYX) Upgraded at Wall Street Zen

SCYNEXIS (NASDAQ:SCYX) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Other equities analysts have also recently issued research reports about the stock. reiterated a “buy” rating on shares of SCYNEXIS in a research note on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of SCYNEXIS in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.00.

SCYNEXIS Stock Performance

SCYNEXIS stock opened at $0.79 on Tuesday. The stock has a market cap of $35.27 million, a PE ratio of -4.65 and a beta of 1.32. SCYNEXIS has a one year low of $0.57 and a one year high of $1.31. The stock has a fifty day moving average of $0.80 and a 200 day moving average of $0.75.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in SCYNEXIS by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock worth $1,357,000 after acquiring an additional 105,600 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in SCYNEXIS during the 4th quarter worth approximately $1,255,000. Geode Capital Management LLC lifted its holdings in SCYNEXIS by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock valued at $284,000 after purchasing an additional 29,775 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in SCYNEXIS by 4.2% during the second quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock valued at $248,000 after purchasing an additional 14,689 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of SCYNEXIS in the second quarter worth approximately $27,000. 54.37% of the stock is currently 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.