SCYNEXIS (NASDAQ:SCYX) Issues Quarterly Earnings Results

SCYNEXIS (NASDAQ:SCYX) announced its quarterly earnings data on Wednesday. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04), FiscalAI reports. The firm had revenue of $17.20 million during the quarter, compared to the consensus estimate of $8.10 million. SCYNEXIS had a negative return on equity of 60.54% and a negative net margin of 862.89%.

SCYNEXIS Trading Up 3.1%

SCYX stock traded up $0.02 during trading on Wednesday, hitting $0.78. The company had a trading volume of 387,874 shares, compared to its average volume of 409,808. The company has a fifty day moving average price of $0.71 and a two-hundred day moving average price of $0.75. SCYNEXIS has a fifty-two week low of $0.57 and a fifty-two week high of $1.31. The company has a market cap of $32.53 million, a P/E ratio of -1.52 and a beta of 1.33.

Institutional Investors Weigh In On SCYNEXIS

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new stake in shares of SCYNEXIS in the 4th quarter worth about $1,255,000. Vanguard Group Inc. increased its holdings 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of SCYNEXIS by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock valued at $284,000 after acquiring an additional 29,775 shares during the last quarter. Bridgeway Capital Management LLC grew its position in SCYNEXIS by 4.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after acquiring an additional 14,689 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in SCYNEXIS during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 54.37% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of SCYNEXIS in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.00.

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.