StockNews.com Upgrades SCYNEXIS (NASDAQ:SCYX) to Hold

SCYNEXIS (NASDAQ:SCYX) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

SCYNEXIS Stock Down 1.5 %

Shares of SCYX stock opened at $1.31 on Friday. The company has a 50 day moving average price of $1.45 and a 200-day moving average price of $1.80. SCYNEXIS has a 52 week low of $1.26 and a 52 week high of $3.07. The firm has a market capitalization of $49.71 million, a PE ratio of -1.77 and a beta of 1.50.

SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). SCYNEXIS had a negative return on equity of 63.67% and a negative net margin of 425.41%. The company had revenue of $0.74 million during the quarter. Analysts anticipate that SCYNEXIS will post -0.68 earnings per share for the current year.

Insider Transactions at SCYNEXIS

In related news, CEO Gonzalez David Angulo purchased 20,000 shares of SCYNEXIS stock in a transaction dated Thursday, September 12th. The stock was purchased at an average cost of $1.37 per share, for a total transaction of $27,400.00. Following the completion of the purchase, the chief executive officer now directly owns 507,871 shares of the company’s stock, valued at $695,783.27. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On SCYNEXIS

Institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC boosted its holdings in shares of SCYNEXIS by 8.1% in the first quarter. Empowered Funds LLC now owns 88,414 shares of the company’s stock worth $130,000 after buying an additional 6,650 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in SCYNEXIS by 5.4% during the first quarter. Acadian Asset Management LLC now owns 421,083 shares of the company’s stock valued at $618,000 after purchasing an additional 21,700 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in SCYNEXIS by 8.3% during the first quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company’s stock valued at $2,481,000 after purchasing an additional 129,153 shares in the last quarter. Hedge funds and other institutional investors own 54.37% of the company’s stock.

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.