SCYNEXIS (NASDAQ:SCYX) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

SCYNEXIS, Inc. (NASDAQ:SCYX) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.67 and traded as low as $1.12. SCYNEXIS shares last traded at $1.14, with a volume of 170,573 shares.

Analysts Set New Price Targets

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

SCYNEXIS Trading Up 2.7 %

The business’s 50 day simple moving average is $1.34 and its 200 day simple moving average is $1.66. The firm has a market capitalization of $43.26 million, a PE ratio of -1.54 and a beta of 1.50.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.14. SCYNEXIS had a negative return on equity of 66.21% and a negative net margin of 425.41%. The company had revenue of $0.66 million during the quarter. Analysts forecast that SCYNEXIS, Inc. will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SCYX. Vanguard Group Inc. boosted its holdings in SCYNEXIS by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company’s stock valued at $2,481,000 after acquiring an additional 129,153 shares during the period. Acadian Asset Management LLC lifted its position in shares of SCYNEXIS by 28.4% during the second quarter. Acadian Asset Management LLC now owns 540,683 shares of the company’s stock worth $1,080,000 after purchasing an additional 119,600 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of SCYNEXIS by 10.0% during the third 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 period. Finally, XTX Topco Ltd bought a new position in shares of SCYNEXIS in the third quarter worth about $25,000. 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.