SCYNEXIS (NASDAQ:SCYX) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

by · The Cerbat Gem

SCYNEXIS, Inc. (NASDAQ:SCYX – Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.80 and traded as low as $0.6570. SCYNEXIS shares last traded at $0.6725, with a volume of 322,766 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of SCYNEXIS to a “hold” rating in a research note on Saturday, October 25th. Guggenheim reduced their price target on shares of 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 (d-)” rating on shares of SCYNEXIS in a research report on Monday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, SCYNEXIS has a consensus rating of “Hold” and an average price target of $3.00.

Get Our Latest Stock Analysis on SCYNEXIS

SCYNEXIS Price Performance

The company has a market cap of $28.46 million, a PE ratio of -1.70 and a beta of 1.69. The company’s 50 day simple moving average is $0.76 and its two-hundred day simple moving average is $0.80.

SCYNEXIS (NASDAQ:SCYX – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.04. The firm had revenue of $0.33 million for the quarter, compared to analyst estimates of $0.15 million. SCYNEXIS had a negative net margin of 599.05% and a negative return on equity of 43.04%.

Institutional Investors Weigh In On SCYNEXIS

Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in SCYNEXIS during the 2nd quarter valued at about $27,000. Bridgeway Capital Management LLC lifted 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 purchasing an additional 14,689 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of SCYNEXIS during the third quarter worth about $41,000. Vanguard Group Inc. boosted its stake in shares of SCYNEXIS by 6.4% in the third quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock valued at $1,357,000 after purchasing an additional 105,600 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in shares of SCYNEXIS by 95.2% in the third quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock valued at $80,000 after purchasing an additional 50,916 shares in the last quarter. Hedge funds and other institutional investors own 54.37% of the company’s stock.

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.

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