SCYNEXIS (NASDAQ:SCYX) Announces Quarterly Earnings Results

SCYNEXIS (NASDAQ:SCYX) posted its quarterly earnings data on Monday. The company reported $0.63 EPS for the quarter, topping the consensus estimate of ($0.51) by $1.14, FiscalAI reports. SCYNEXIS had a negative return on equity of 57.16% and a negative net margin of 41.79%.The company had revenue of $0.23 million during the quarter, compared to analyst estimates of $0.08 million.

SCYNEXIS Stock Down 1.5%

SCYX traded down $0.08 during trading on Monday, reaching $5.16. The company’s stock had a trading volume of 51,102 shares, compared to its average volume of 92,937. 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 firm has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $5.88. SCYNEXIS has a 1 year low of $3.53 and a 1 year high of $10.48.

Hedge Funds Weigh In On SCYNEXIS

A number of institutional investors have recently added to or reduced their stakes in SCYX. Goldman Sachs Group Inc. acquired a new position in SCYNEXIS during the fourth quarter worth $1,255,000. Vanguard Group Inc. increased its stake 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 worth $1,357,000 after acquiring an additional 105,600 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of SCYNEXIS by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after acquiring an additional 29,775 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of 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 period. Finally, Jane Street Group LLC purchased a new position in shares of SCYNEXIS during the 2nd quarter worth $27,000. Hedge funds and other institutional investors own 54.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on SCYX shares. Brookline Capital Markets reaffirmed a “buy” rating on shares of SCYNEXIS in a research note on Friday, July 31st. Weiss Ratings raised SCYNEXIS from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 24th. Finally, Wall Street Zen lowered SCYNEXIS from a “sell” rating to a “strong sell” rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.00.

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.