SCYNEXIS, Inc. (NASDAQ:SCYX) Short Interest Up 79.6% in April

SCYNEXIS, Inc. (NASDAQ:SCYX) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 2,100,787 shares, a growth of 79.6% from the April 15th total of 1,169,538 shares. Based on an average daily trading volume, of 380,859 shares, the short-interest ratio is presently 5.5 days. Approximately 4.9% of the company’s shares are short sold.

SCYNEXIS Price Performance

Shares of NASDAQ SCYX opened at $0.69 on Tuesday. The company’s 50 day simple moving average is $0.92 and its 200 day simple moving average is $0.76. SCYNEXIS has a fifty-two week low of $0.57 and a fifty-two week high of $1.31. The firm has a market capitalization of $30.60 million, a P/E ratio of -1.43 and a beta of 1.12.

SCYNEXIS (NASDAQ:SCYX) last issued its earnings results on Monday, May 11th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.32). SCYNEXIS had a negative net margin of 41.79% and a negative return on equity of 57.16%. Sell-side analysts expect that SCYNEXIS will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On SCYNEXIS

Several large investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of SCYNEXIS during the second quarter worth about $27,000. Geode Capital Management LLC boosted its position in shares of SCYNEXIS by 7.1% during the fourth 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. Vanguard Group Inc. boosted its position in shares of SCYNEXIS by 6.4% during the third quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock worth $1,357,000 after buying an additional 105,600 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of SCYNEXIS during the fourth quarter worth about $1,255,000. Finally, Bridgeway Capital Management LLC boosted its position in shares of SCYNEXIS by 4.2% during the second 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. Institutional investors own 54.37% of the company’s stock.

Wall Street Analyst Weigh In

SCYX has been the topic of several analyst reports. restated a “buy” rating on shares of SCYNEXIS in a report on Monday, March 9th. Wall Street Zen lowered shares of SCYNEXIS from a “buy” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.00.

SCYNEXIS Company Profile

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.