SCYNEXIS, Inc. (NASDAQ:SCYX) Short Interest Update

SCYNEXIS, Inc. (NASDAQ:SCYX) was the target of a large drop in short interest in June. As of June 15th, there was short interest totaling 320,181 shares, a drop of 87.6% from the May 31st total of 2,578,236 shares. Approximately 3.4% of the company’s stock are short sold. Based on an average daily volume of 64,478 shares, the short-interest ratio is currently 5.0 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SCYX. Jane Street Group LLC acquired a new position in shares of SCYNEXIS in the 2nd quarter worth approximately $27,000. Bridgeway Capital Management LLC raised its position 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 valued at $248,000 after acquiring an additional 14,689 shares in the last quarter. Vanguard Group Inc. lifted its stake in SCYNEXIS by 6.4% during the third quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock worth $1,357,000 after purchasing an additional 105,600 shares during the last quarter. GSA Capital Partners LLP lifted its stake in SCYNEXIS by 95.2% during the third quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock worth $80,000 after purchasing an additional 50,916 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in SCYNEXIS by 7.1% in the fourth 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 period. Institutional investors own 54.37% of the company’s stock.

SCYNEXIS Price Performance

Shares of SCYX stock opened at $3.81 on Friday. The firm has a market cap of $37.83 million, a P/E ratio of -0.99 and a beta of 1.05. SCYNEXIS has a 1-year low of $3.68 and a 1-year high of $10.48. The firm has a fifty day moving average of $5.95 and a two-hundred day moving average of $6.04.

SCYNEXIS (NASDAQ:SCYX) last issued its earnings results on Monday, May 11th. The company reported ($3.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($2.56). SCYNEXIS had a negative net margin of 41.79% and a negative return on equity of 57.16%. On average, sell-side analysts expect that SCYNEXIS will post -1.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on SCYX. Weiss Ratings lowered shares of SCYNEXIS from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 12th. restated a “buy” rating on shares of SCYNEXIS in a research note on Monday, March 9th. Finally, Wall Street Zen lowered SCYNEXIS from a “buy” rating to a “sell” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $24.00.

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.