SCYNEXIS (NASDAQ:SCYX) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of SCYNEXIS, Inc. (NASDAQ:SCYX) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.38 and traded as low as $1.15. SCYNEXIS shares last traded at $1.17, with a volume of 112,058 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of SCYNEXIS from a “sell” rating to a “hold” rating in a report on Friday, November 8th.

SCYNEXIS Stock Performance

The company’s fifty day moving average is $1.14 and its two-hundred day moving average is $1.37. The company has a market cap of $42.50 million, a price-to-earnings ratio of -1.51 and a beta of 1.52.

Hedge Funds Weigh In On SCYNEXIS

Several hedge funds and other institutional investors have recently bought and sold shares of SCYX. Geode Capital Management LLC grew its stake in shares of SCYNEXIS by 10.0% during the 3rd quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock worth $594,000 after purchasing an additional 36,405 shares during the period. XTX Topco Ltd acquired a new stake in shares of SCYNEXIS during the 3rd quarter worth approximately $25,000. Jane Street Group LLC acquired a new stake in shares of SCYNEXIS during the 4th quarter worth approximately $32,000. Northern Trust Corp grew its stake in shares of SCYNEXIS by 51.9% during the 4th quarter. Northern Trust Corp now owns 153,518 shares of the company’s stock worth $186,000 after purchasing an additional 52,466 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in shares of SCYNEXIS during the 4th quarter valued at approximately $49,000. Institutional investors and hedge funds own 54.37% of the company’s stock.

About SCYNEXIS

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.