Scynexis Inc. (SCYX) Sets New 52-Week Low at $1.97
Scynexis Inc. (NASDAQ:SCYX)’s share price reached a new 52-week low on Wednesday . The company traded as low as $1.97 and last traded at $2.02, with a volume of 330,210 shares traded. The stock had previously closed at $2.10.
A number of equities analysts have weighed in on SCYX shares. Brean Capital reissued a “buy” rating on shares of Scynexis in a research note on Monday, May 9th. Zacks Investment Research raised Scynexis from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research note on Wednesday, June 15th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Scynexis in a research note on Thursday, June 9th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Scynexis in a research note on Tuesday, May 10th. Six analysts have rated the stock with a buy rating, Scynexis presently has an average rating of “Buy” and a consensus target price of $12.71.
The firm’s market cap is $28.31 million. The company’s 50 day moving average price is $2.87 and its 200-day moving average price is $4.07.
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 analysts’ consensus estimates of ($0.63) by $0.11. Analysts expect that Scynexis Inc. will post ($2.27) EPS for the current fiscal year.
In other news, CEO Marco Taglietti acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The stock was purchased at an average cost of $2.39 per share, with a total value of $239,000.00. Following the purchase, the chief executive officer now directly owns 225,000 shares of the company’s stock, valued at approximately $537,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gonzalez David Angulo acquired 36,950 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The stock was purchased at an average cost of $2.22 per share, with a total value of $82,029.00. Following the completion of the purchase, the insider now directly owns 8,850 shares in the company, valued at $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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