SCYNEXIS, Inc. (NASDAQ:SCYX) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Friday, July 14th.

Several other analysts also recently weighed in on SCYX. Zacks Investment Research upgraded SCYNEXIS from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research report on Friday, March 17th. HC Wainwright set a $14.00 target price on SCYNEXIS and gave the company a “buy” rating in a research report on Saturday, April 15th. Needham & Company LLC downgraded SCYNEXIS from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Aegis restated a “buy” rating on shares of SCYNEXIS in a research report on Tuesday, May 30th. Finally, Roth Capital started coverage on SCYNEXIS in a research report on Monday, July 10th. They set a “buy” rating and a $8.50 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. SCYNEXIS currently has a consensus rating of “Buy” and an average target price of $10.22.

Shares of SCYNEXIS (NASDAQ SCYX) opened at 1.64 on Friday. The firm’s market cap is $42.31 million. SCYNEXIS has a 52 week low of $1.52 and a 52 week high of $5.51. The company has a 50 day moving average of $1.80 and a 200 day moving average of $2.41.

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In related news, Director David C. Hastings bought 20,000 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were bought at an average price of $1.75 per share, for a total transaction of $35,000.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $35,000. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marco Taglietti bought 25,000 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was bought at an average price of $1.69 per share, for a total transaction of $42,250.00. Following the acquisition, the chief executive officer now directly owns 277,000 shares of the company’s stock, valued at $468,130. The disclosure for this purchase can be found here. Insiders bought 60,000 shares of company stock worth $102,750 in the last 90 days. Corporate insiders own 3.91% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of SCYNEXIS by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 37,523 shares of the company’s stock worth $103,000 after buying an additional 512 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of SCYNEXIS during the first quarter worth approximately $154,000. KCG Holdings Inc. acquired a new stake in shares of SCYNEXIS during the first quarter worth approximately $416,000. Private Advisor Group LLC acquired a new stake in shares of SCYNEXIS during the first quarter worth approximately $555,000. Finally, Iguana Healthcare Management LLC raised its stake in shares of SCYNEXIS by 20.0% in the first quarter. Iguana Healthcare Management LLC now owns 300,000 shares of the company’s stock worth $828,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 46.26% of the company’s stock.

About SCYNEXIS

SCYNEXIS, Inc is engaged in the discovery, development and commercialization of anti-infectives. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of several fungal infections, including serious invasive fungal infections. SCY-078 is a structurally distinct glucan synthase inhibitor that has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species, including drug-resistant strains.

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Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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