SCYNEXIS (NASDAQ:SCYX) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen cut shares of SCYNEXIS (NASDAQ:SCYX) from a sell rating to a strong sell rating in a research report released on Saturday morning.

A number of other analysts have also recently commented on the company. Weiss Ratings upgraded SCYNEXIS from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 24th. Brookline Capital Markets reaffirmed a “buy” rating on shares of SCYNEXIS in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.00.

SCYNEXIS Stock Performance

Shares of NASDAQ:SCYX opened at $5.24 on Friday. The business’s fifty day moving average price is $4.35 and its two-hundred day moving average price is $5.88. The stock has a market cap of $52.03 million, a PE ratio of -1.36 and a beta of 1.09. SCYNEXIS has a one year low of $3.53 and a one year high of $10.48.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.32). SCYNEXIS had a negative return on equity of 57.16% and a negative net margin of 41.79%. As a group, equities research analysts predict that SCYNEXIS will post -1.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SCYNEXIS

Several hedge funds have recently made changes to their positions in SCYX. Jane Street Group LLC purchased a new stake in shares of SCYNEXIS in the second quarter valued at $27,000. Wealth Effects LLC purchased a new position in SCYNEXIS during the second quarter worth about $56,000. BlackRock Inc. acquired a new stake in SCYNEXIS in the 2nd quarter worth about $169,000. Renaissance Technologies LLC boosted its stake in SCYNEXIS by 27.6% in the 1st quarter. Renaissance Technologies LLC now owns 224,640 shares of the company’s stock worth $206,000 after buying an additional 48,640 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in SCYNEXIS by 4.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock valued at $248,000 after buying an additional 14,689 shares during the period. Institutional investors and hedge funds 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.