StockNews.com upgraded shares of SCYNEXIS (NASDAQ:SCYX – Free Report) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
SCYNEXIS Stock Performance
Shares of NASDAQ SCYX traded down $0.02 during midday trading on Friday, hitting $1.31. 157,380 shares of the company’s stock traded hands, compared to its average volume of 185,749. The firm has a fifty day moving average of $1.45 and a 200 day moving average of $1.80. SCYNEXIS has a 1 year low of $1.26 and a 1 year high of $3.07. The stock has a market capitalization of $49.71 million, a price-to-earnings ratio of -1.77 and a beta of 1.50.
SCYNEXIS (NASDAQ:SCYX – Get Free Report) last released its 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 425.41% and a negative return on equity of 63.67%. On average, equities analysts anticipate that SCYNEXIS will post -0.68 earnings per share for the current year.
Insider Transactions at SCYNEXIS
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Empowered Funds LLC lifted its stake in shares of SCYNEXIS by 8.1% in the 1st quarter. Empowered Funds LLC now owns 88,414 shares of the company’s stock valued at $130,000 after purchasing an additional 6,650 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of SCYNEXIS by 5.4% in the 1st quarter. Acadian Asset Management LLC now owns 421,083 shares of the company’s stock worth $618,000 after acquiring an additional 21,700 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of SCYNEXIS by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company’s stock worth $2,481,000 after purchasing an additional 129,153 shares during the period. Hedge funds and other institutional investors 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.
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