SCYNEXIS, Inc. (NASDAQ:SCYX) Short Interest Up 79.6% in April

SCYNEXIS, Inc. (NASDAQ:SCYX) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 2,100,787 shares, an increase of 79.6% from the April 15th total of 1,169,538 shares. Currently, 4.9% of the company’s stock are short sold. Based on an average daily trading volume, of 380,859 shares, the short-interest ratio is currently 5.5 days.

Analysts Set New Price Targets

A number of analysts have weighed in on SCYX shares. restated a “buy” rating on shares of SCYNEXIS in a report on Monday, March 9th. Wall Street Zen lowered shares of SCYNEXIS from a “buy” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.00.

SCYNEXIS Stock Performance

NASDAQ SCYX opened at $0.74 on Monday. The firm’s fifty day simple moving average is $0.92 and its two-hundred day simple moving average is $0.77. SCYNEXIS has a 12-month low of $0.57 and a 12-month high of $1.31. The firm has a market capitalization of $33.05 million, a P/E ratio of -1.54 and a beta of 1.12.

SCYNEXIS (NASDAQ:SCYX) last 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). SCYNEXIS had a negative return on equity of 57.16% and a negative net margin of 41.79%. As a group, sell-side analysts predict that SCYNEXIS will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SCYNEXIS

Several institutional investors and hedge funds have recently bought and sold shares of SCYX. Jane Street Group LLC purchased a new position in SCYNEXIS in the second quarter worth $27,000. Sequoia Financial Advisors LLC acquired a new stake in shares of SCYNEXIS during the third quarter worth $41,000. GSA Capital Partners LLP lifted its stake in shares of SCYNEXIS by 95.2% during 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 period. Renaissance Technologies LLC lifted its stake in shares of SCYNEXIS by 27.6% during the first 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 period. Finally, Bridgeway Capital Management LLC lifted its stake 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 buying an additional 14,689 shares during the period. 54.37% of the stock is owned by hedge funds and other institutional investors.

SCYNEXIS Company Profile

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.