SCYNEXIS (NASDAQ:SCYX) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

by · The Markets Daily

SCYNEXIS, Inc. (NASDAQ:SCYX – Get Free Report)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.78 and traded as low as $0.6340. SCYNEXIS shares last traded at $0.6448, with a volume of 216,480 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on SCYX. Wall Street Zen upgraded shares of SCYNEXIS to a “hold” rating in a research note on Saturday, October 25th. Guggenheim lowered their target price on SCYNEXIS from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SCYNEXIS in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, SCYNEXIS has an average rating of “Hold” and a consensus target price of $3.00.

Get Our Latest Stock Analysis on SCYX

SCYNEXIS Stock Down 0.8%

The firm has a market cap of $27.06 million, a price-to-earnings ratio of -1.26 and a beta of 1.37. The stock’s 50 day moving average is $0.69 and its 200 day moving average is $0.78.

SCYNEXIS (NASDAQ:SCYX – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.04. SCYNEXIS had a negative return on equity of 60.54% and a negative net margin of 862.89%.The firm had revenue of $0.33 million during the quarter, compared to analyst estimates of $0.15 million.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SCYX. Jane Street Group LLC acquired a new stake in SCYNEXIS in the 2nd quarter valued at about $27,000. Bridgeway Capital Management LLC raised its holdings in shares of SCYNEXIS by 4.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after purchasing an additional 14,689 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in SCYNEXIS during the third quarter valued at approximately $41,000. Vanguard Group Inc. boosted its holdings in 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 in the last quarter. Finally, GSA Capital Partners LLP grew its position in SCYNEXIS by 95.2% in the third 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 during the last quarter. 54.37% of the stock is owned by institutional investors and hedge funds.

SCYNEXIS Company Profile

(Get Free Report)

SCYNEXIS, Inc, a biotechnology company, develops medicines to overcome and prevent difficult-to-treat and drug-resistant infections in the United States. It offers BREXAFEMME for the treatment of patients with vulvovaginal candidiasis (VVC) and recurrent VVC. The company's lead product candidate is Ibrexafungerp, an intravenous drug for the treatment of invasive candidiasis and/or candidemia, refractory invasive fungal infections, invasive aspergillosis, VVC, and recurrent VVC.

Read More