SCYNEXIS Stock Scheduled to Reverse Split on Monday, June 1st (NASDAQ:SCYX)

Shares of SCYNEXIS, Inc. (NASDAQ:SCYX) are going to reverse split before the market opens on Monday, June 1st. The 1-8 reverse split was announced on Friday, May 22nd. The number of shares owned by shareholders will be adjusted after the market closes on Friday, May 29th.

SCYNEXIS Stock Performance

SCYNEXIS stock opened at $0.66 on Tuesday. The company has a market cap of $29.61 million, a price-to-earnings ratio of -1.38 and a beta of 1.12. SCYNEXIS has a 1 year low of $0.57 and a 1 year high of $1.31. The firm has a 50 day moving average price of $0.90 and a 200 day moving average price of $0.77.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.32). SCYNEXIS had a negative return on equity of 57.16% and a negative net margin of 41.79%. Sell-side analysts predict that SCYNEXIS will post -0.2 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SCYX shares. Wall Street Zen lowered SCYNEXIS from a “buy” rating to a “sell” rating in a research note on Saturday, May 16th. reaffirmed a “buy” rating on shares of SCYNEXIS in a research report on Monday, March 9th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SCYX. Goldman Sachs Group Inc. acquired a new position in shares of SCYNEXIS during the fourth quarter valued at approximately $1,255,000. Vanguard Group Inc. grew its holdings in shares of SCYNEXIS by 6.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock valued at $1,357,000 after acquiring an additional 105,600 shares in the last quarter. Geode Capital Management LLC increased its position in SCYNEXIS by 7.1% in 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 during the last quarter. Bridgeway Capital Management LLC increased its holdings in SCYNEXIS by 4.2% in the second quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after buying an additional 14,689 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of SCYNEXIS by 27.6% during the 1st quarter. Renaissance Technologies LLC now owns 224,640 shares of the company’s stock worth $206,000 after purchasing an additional 48,640 shares during the last quarter. Institutional investors 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.