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

Shares of SCYNEXIS, Inc. (NASDAQ:SCYX) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.89 and traded as low as $4.41. SCYNEXIS shares last traded at $5.07, with a volume of 432,304 shares.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Brookline Capital Markets reiterated a “buy” rating on shares of SCYNEXIS in a report on Friday, July 31st. Weiss Ratings raised SCYNEXIS from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 24th. Finally, Wall Street Zen downgraded shares of SCYNEXIS from a “buy” rating to a “sell” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.00.

SCYNEXIS Trading Down 4.4%

The company has a market cap of $51.24 million, a price-to-earnings ratio of -1.34 and a beta of 1.09. The stock has a 50 day moving average price of $4.37 and a two-hundred day moving average price of $5.89.

SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.32). SCYNEXIS had a negative return on equity of 57.16% and a negative net margin of 41.79%. On average, equities analysts forecast that SCYNEXIS, Inc. will post -1.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC grew its holdings in SCYNEXIS by 4.2% during the second quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock valued at $248,000 after purchasing an additional 14,689 shares during the period. Geode Capital Management LLC raised its holdings in SCYNEXIS by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after purchasing an additional 29,775 shares during the period. Jane Street Group LLC bought a new position in shares of SCYNEXIS during the second quarter worth $27,000. Renaissance Technologies LLC boosted its position 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 purchasing an additional 48,640 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of SCYNEXIS by 6.4% in the 3rd 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 period. Institutional investors own 54.37% of the company’s stock.

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.