Scynexis Inc. (SCYX) Sees Strong Trading Volume
Scynexis Inc. (NASDAQ:SCYX) saw an uptick in trading volume on Friday . 488,087 shares were traded during mid-day 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 analysts recently issued reports on SCYX shares. Canaccord Genuity reissued a “buy” rating on shares of Scynexis in a report on Monday, April 18th. Brean Capital reissued a “buy” rating and set a $16.00 price target on shares of Scynexis in a report on Thursday, June 9th. Needham & Company LLC reissued a “buy” rating on shares of Scynexis in a report on Tuesday, May 10th. Finally, Zacks Investment Research downgraded shares of Scynexis from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Scynexis has a consensus rating of “Buy” and a consensus price target of $12.71.
The company’s market capitalization is $31.84 million. The firm has a 50-day moving average price of $2.53 and a 200-day moving average price of $3.88.
Scynexis (NASDAQ:SCYX) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.11. On average, equities analysts predict that Scynexis Inc. will post ($2.27) EPS for the current fiscal year.
In related news, CEO Marco Taglietti acquired 100,000 shares of the business’s stock in a transaction on Friday, June 24th. The shares were bought at an average price of $2.39 per share, with a total value of $239,000.00. Following the completion of the acquisition, the chief executive officer now owns 225,000 shares in the company, valued at $537,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gonzalez David Angulo acquired 36,950 shares of the business’s stock in a transaction on Thursday, June 30th. The shares were bought at an average cost of $2.22 per share, for a total transaction of $82,029.00. Following the acquisition, the insider now 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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