SCYNEXIS (NASDAQ:SCYX) Issues Earnings Results

SCYNEXIS (NASDAQ:SCYX) released its quarterly earnings results on Monday, May 11th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.32), Zacks reports. SCYNEXIS had a negative net margin of 41.79% and a negative return on equity of 57.16%.

SCYNEXIS Price Performance

Shares of SCYX traded up $0.05 during trading hours on Friday, reaching $3.86. 45,667 shares of the company’s stock traded hands, compared to its average volume of 66,624. The firm has a market capitalization of $38.32 million, a price-to-earnings ratio of -1.00 and a beta of 1.05. SCYNEXIS has a twelve month low of $3.68 and a twelve month high of $10.48. The business’s fifty day simple moving average is $5.95 and its two-hundred day simple moving average is $6.04.

Institutional Trading of SCYNEXIS

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in shares of 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 purchasing an additional 48,640 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of SCYNEXIS in the 4th quarter worth $1,255,000. Geode Capital Management LLC increased its stake in 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 acquiring an additional 29,775 shares during the last quarter. GSA Capital Partners LLP raised its holdings 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 buying an additional 50,916 shares during the period. Finally, Vanguard Group Inc. grew its stake 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 valued at $1,357,000 after buying an additional 105,600 shares during the last quarter. 54.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SCYX has been the subject of several research reports. reaffirmed a “buy” rating on shares of SCYNEXIS in a research note on Monday, March 9th. Weiss Ratings cut shares of SCYNEXIS from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 12th. Finally, Wall Street Zen downgraded shares of SCYNEXIS from a “buy” rating to a “sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.00.

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.