SCYNEXIS (NASDAQ:SCYX) Stock Rating Lowered by StockNews.com

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

SCYNEXIS Stock Performance

Shares of SCYX opened at $1.73 on Monday. The firm has a market cap of $65.36 million, a PE ratio of 0.85 and a beta of 1.52. SCYNEXIS has a 52-week low of $1.35 and a 52-week high of $3.87. The business’s 50 day moving average price is $2.00 and its two-hundred day moving average price is $1.88.

SCYNEXIS (NASDAQ:SCYX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The company had revenue of $0.74 million for the quarter. SCYNEXIS had a negative net margin of 366.09% and a negative return on equity of 57.41%. Research analysts predict that SCYNEXIS will post -0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On SCYNEXIS

A number of institutional investors and hedge funds have recently modified their holdings of SCYX. Kingdon Capital Management L.L.C. grew its position in SCYNEXIS by 19.2% during the fourth quarter. Kingdon Capital Management L.L.C. now owns 2,237,048 shares of the company’s stock worth $4,989,000 after buying an additional 359,900 shares in the last quarter. Vanguard Group Inc. grew its stake in SCYNEXIS by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company’s stock worth $2,481,000 after buying an additional 129,153 shares in the last quarter. Avidity Partners Management LP grew its position in SCYNEXIS by 9.8% in the fourth quarter. Avidity Partners Management LP now owns 1,448,728 shares of the company’s stock worth $3,231,000 after acquiring an additional 129,284 shares in the last quarter. AMH Equity Ltd raised its position in SCYNEXIS by 19.9% during the first quarter. AMH Equity Ltd now owns 660,000 shares of the company’s stock valued at $970,000 after purchasing an additional 109,600 shares in the last quarter. Finally, Decheng Capital LLC purchased a new position in shares of SCYNEXIS in the 4th quarter worth about $1,239,000. 54.37% of the stock is owned by hedge funds and other institutional investors.

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.