SCYNEXIS (NASDAQ:SCYX) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of SCYNEXIS (NASDAQ:SCYX) from a buy rating to a hold rating in a research report released on Monday.

Several other analysts have also weighed in on the company. reissued a “buy” rating on shares of SCYNEXIS in a report on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of SCYNEXIS in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, SCYNEXIS presently has a consensus rating of “Hold” and a consensus target price of $3.00.

SCYNEXIS Stock Performance

NASDAQ SCYX opened at $0.88 on Monday. The firm has a 50-day simple moving average of $0.79 and a 200 day simple moving average of $0.76. SCYNEXIS has a twelve month low of $0.57 and a twelve month high of $1.31. The stock has a market cap of $39.34 million, a PE ratio of -5.18 and a beta of 1.33.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). The firm 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCYX. Jane Street Group LLC acquired a new stake in SCYNEXIS during the second quarter valued at approximately $27,000. Sequoia Financial Advisors LLC acquired a new position in shares of SCYNEXIS in the 3rd quarter worth approximately $41,000. GSA Capital Partners LLP raised its holdings in shares of SCYNEXIS by 95.2% in the 3rd quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock worth $80,000 after buying an additional 50,916 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of SCYNEXIS by 4.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after buying an additional 14,689 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of SCYNEXIS by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after buying an additional 29,775 shares during the period. Institutional investors own 54.37% of the company’s stock.

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.