SCYNEXIS (NASDAQ:SCYX) Rating Lowered to Strong Sell at Wall Street Zen

SCYNEXIS (NASDAQ:SCYX) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday.

Several other analysts also recently commented on SCYX. Weiss Ratings raised shares of SCYNEXIS from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 24th. Brookline Capital Markets reaffirmed a “buy” rating on shares of SCYNEXIS in a research note on Friday, July 31st. Two research analysts have 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 has a consensus rating of “Hold” and a consensus target price of $24.00.

SCYNEXIS Stock Performance

Shares of NASDAQ SCYX opened at $5.24 on Friday. The stock has a market cap of $52.03 million, a price-to-earnings ratio of -1.36 and a beta of 1.09. The business has a 50 day simple moving average of $4.35 and a 200 day simple moving average of $5.88. SCYNEXIS has a 52 week low of $3.53 and a 52 week high of $10.48.

SCYNEXIS (NASDAQ:SCYX) last released 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, analysts predict that SCYNEXIS will post -1.6 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SCYX. Goldman Sachs Group Inc. bought a new stake in SCYNEXIS during the fourth quarter worth approximately $1,255,000. Vanguard Group Inc. grew its holdings in SCYNEXIS by 6.4% during 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 last quarter. Geode Capital Management LLC raised its position 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 purchasing an additional 29,775 shares during the period. Bridgeway Capital Management LLC raised its position in shares of SCYNEXIS by 4.2% in 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. Finally, Renaissance Technologies LLC lifted its stake in shares of SCYNEXIS by 27.6% in 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 last quarter. 54.37% of the stock is owned by 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.