SCYNEXIS (NASDAQ:SCYX) Cut to Sell at StockNews.com

StockNews.com cut shares of SCYNEXIS (NASDAQ:SCYX) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

SCYNEXIS Price Performance

NASDAQ:SCYX opened at $1.04 on Friday. SCYNEXIS has a 52 week low of $0.82 and a 52 week high of $3.07. The stock’s 50-day moving average price is $1.06 and its 200-day moving average price is $1.23. The stock has a market capitalization of $40.54 million, a PE ratio of -1.41 and a beta of 1.67.

SCYNEXIS (NASDAQ:SCYX) last announced its earnings results on Wednesday, March 12th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.13. The business had revenue of $0.98 million during the quarter. SCYNEXIS had a negative return on equity of 66.21% and a negative net margin of 425.41%.

Hedge Funds Weigh In On SCYNEXIS

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in SCYNEXIS by 10.0% in the 3rd quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock valued at $594,000 after purchasing an additional 36,405 shares during the last quarter. AMH Equity Ltd raised its holdings in shares of SCYNEXIS by 4.3% in the fourth quarter. AMH Equity Ltd now owns 626,052 shares of the company’s stock valued at $758,000 after buying an additional 26,052 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of SCYNEXIS in the third quarter valued at about $25,000. Millennium Management LLC acquired a new stake in shares of SCYNEXIS during the fourth quarter worth about $31,000. Finally, Squarepoint Ops LLC purchased a new position in shares of SCYNEXIS during the fourth quarter worth about $53,000. 54.37% of the stock is currently owned by hedge funds and other institutional investors.

SCYNEXIS Company Profile

SCYNEXIS, Inc, a biotechnology company, develops medicines to overcome and prevent difficult-to-treat and drug-resistant infections in the United States. It offers BREXAFEMME for the treatment of patients with vulvovaginal candidiasis (VVC) and recurrent VVC. The company's lead product candidate is Ibrexafungerp, an intravenous drug for the treatment of invasive candidiasis and/or candidemia, refractory invasive fungal infections, invasive aspergillosis, VVC, and recurrent VVC.