Scynexis Inc. (SCYX) Sees Unusually-High Trading Volume
Scynexis Inc. (NASDAQ:SCYX) shares saw an uptick in trading volume on Monday . 476,765 shares changed hands during mid-day trading, an increase of 22% from the previous session’s volume of 391,239 shares.The stock last traded at $2.13 and had previously closed at $2.21.
Several brokerages have weighed in on SCYX. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price objective on shares of Scynexis in a research note on Thursday, June 9th. Canaccord Genuity restated a “buy” rating on shares of Scynexis in a research report on Tuesday, May 10th. Brean Capital began coverage on shares of Scynexis in a research report on Monday, March 28th. They issued a “buy” rating and a $16.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Scynexis from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research report on Wednesday, June 15th. Six research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $12.71.
The company’s market cap is $30.04 million. The stock’s 50 day moving average is $2.91 and its 200 day moving average is $4.08.
Scynexis (NASDAQ:SCYX) last issued its earnings results on Monday, May 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.11. On average, equities research analysts anticipate that Scynexis Inc. will post ($2.27) earnings per share for the current fiscal year.
In other news, CFO Eric Francois bought 15,000 shares of the business’s stock in a transaction dated Friday, June 24th. The shares were purchased at an average price of $2.39 per share, for a total transaction of $35,850.00. Following the completion of the acquisition, the chief financial officer now owns 15,000 shares of the company’s stock, valued at $35,850. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gonzalez David Angulo bought 36,950 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was purchased at an average price of $2.22 per share, for a total transaction of $82,029.00. Following the acquisition, the insider now directly owns 8,850 shares of the company’s stock, valued at approximately $19,647. The disclosure for this purchase can be found here.
SCYNEXIS, Inc is engaged in the discovery, development and commercialization of anti-infectives. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of several fungal infections, including serious invasive fungal infections. SCY-078 is a structurally distinct glucan synthase inhibitor that has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species, including drug-resistant strains.
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