Scynexis Inc. (SCYX) Sets New 52-Week Low at $1.97
Scynexis Inc. (NASDAQ:SCYX) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $1.97 and last traded at $2.02, with a volume of 330,210 shares trading hands. The stock had previously closed at $2.10.
SCYX has been the subject of several research analyst reports. Brean Capital initiated coverage on Scynexis in a research note on Monday, March 28th. They set a “buy” rating and a $16.00 price objective for the company. Canaccord Genuity reissued a “buy” rating on shares of Scynexis in a research note on Monday, April 18th. Needham & Company LLC reissued a “buy” rating on shares of Scynexis in a research note on Tuesday, May 10th. Finally, Zacks Investment Research raised Scynexis from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.71.
The stock’s market capitalization is $26.00 million. The stock has a 50 day moving average of $2.79 and a 200 day moving average of $4.04.
Scynexis (NASDAQ:SCYX) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.11. On average, equities research analysts forecast that Scynexis Inc. will post ($2.27) EPS for the current year.
In related news, CEO Marco Taglietti purchased 100,000 shares of the firm’s stock in a transaction dated Friday, June 24th. The stock was purchased at an average price of $2.39 per share, with a total value of $239,000.00. Following the completion of the purchase, the chief executive officer now owns 225,000 shares of the company’s stock, valued at approximately $537,750. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Eric Francois purchased 15,000 shares of the firm’s stock in a transaction dated Friday, June 24th. The shares were bought at an average cost of $2.39 per share, with a total value of $35,850.00. Following the purchase, the chief financial officer now directly owns 15,000 shares of the company’s stock, valued at approximately $35,850. 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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