Scynexis Inc. (SCYX) Sees Unusually-High Trading Volume
Shares of Scynexis Inc. (NASDAQ:SCYX) saw unusually-strong trading volume on Friday . Approximately 488,087 shares changed hands during trading, an increase of 41% from the previous session’s volume of 345,817 shares.The stock last traded at $2.27 and had previously closed at $2.25.
A number of equities analysts recently commented 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 target for the company in a research note on Wednesday, June 15th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $12.71.
The firm has a 50 day moving average of $2.58 and a 200 day moving average of $3.91. The firm’s market cap is $31.84 million.
Scynexis (NASDAQ:SCYX) last announced its quarterly earnings results on Monday, May 9th. The company reported ($0.52) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.11. Analysts anticipate that Scynexis Inc. will post ($2.27) EPS for the current year.
In other Scynexis news, CFO Eric Francois purchased 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 24th. The stock was purchased at an average price of $2.39 per share, for a total transaction of $35,850.00. Following the purchase, the chief financial officer now directly owns 15,000 shares in the company, valued at $35,850. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marco Taglietti purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 24th. The stock was acquired at an average price of $2.39 per share, with a total value of $239,000.00. Following the purchase, the chief executive officer now owns 225,000 shares in the company, valued at $537,750. 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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