SCYNEXIS (NASDAQ:SCYX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SCYNEXIS (NASDAQ:SCYX) from a hold rating to a strong-buy rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SCYNEXIS in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, SCYNEXIS currently has an average rating of “Hold” and an average target price of $3.00.

SCYNEXIS Trading Up 7.5%

NASDAQ SCYX opened at $0.86 on Friday. The stock has a market cap of $38.41 million, a PE ratio of -5.06 and a beta of 1.32. SCYNEXIS has a 12 month low of $0.57 and a 12 month high of $1.31. The company’s 50-day moving average price is $0.73 and its 200-day moving average price is $0.75.

SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The company had revenue of $17.20 million for the quarter, compared to the consensus estimate of $8.10 million. SCYNEXIS had a negative net margin of 41.79% and a negative return on equity of 25.52%.

Institutional Trading of SCYNEXIS

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new stake in SCYNEXIS in the fourth quarter worth about $1,255,000. Geode Capital Management LLC increased its position in SCYNEXIS by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock valued at $284,000 after purchasing an additional 29,775 shares during the period. GSA Capital Partners LLP increased its position in SCYNEXIS by 95.2% during the 3rd quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock valued at $80,000 after purchasing an additional 50,916 shares during the period. Vanguard Group Inc. raised its holdings in shares of SCYNEXIS by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock valued at $1,357,000 after purchasing an additional 105,600 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of SCYNEXIS in the 3rd quarter valued at about $41,000. 54.37% of the stock is currently owned by institutional investors.

About SCYNEXIS

SCYNEXIS, Inc is a late‐stage biopharmaceutical company focused on developing and commercializing novel anti‐infective therapies. Headquartered in Jersey City, New Jersey, the company’s primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS’s scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company’s lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.