Scynexis Inc. (SCYX) Stock Price Down 7%
Scynexis Inc. (NASDAQ:SCYX) shares dropped 7% on Monday . The stock traded as low as $2.08 and last traded at $2.13, with a volume of 264,911 shares changing hands. The stock had previously closed at $2.29.
Several research analysts have recently commented on SCYX shares. Zacks Investment Research cut shares of Scynexis from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Brean Capital reaffirmed a “buy” rating on shares of Scynexis in a report on Monday, May 9th. Canaccord Genuity reaffirmed a “buy” rating on shares of Scynexis in a report on Monday, April 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Scynexis in a report 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. The company currently has an average rating of “Buy” and an average price target of $12.71.
The stock has a 50 day moving average of $2.53 and a 200-day moving average of $3.88. The stock’s market cap is $29.76 million.
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 the Zacks’ consensus estimate of ($0.63) by $0.11. Equities research analysts forecast that Scynexis Inc. will post ($2.27) earnings per share for the current fiscal year.
In other Scynexis news, insider Gonzalez David Angulo acquired 36,950 shares of the stock in a transaction that occurred on Thursday, June 30th. The stock was bought 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marco Taglietti acquired 100,000 shares of the stock in a transaction that occurred on Friday, June 24th. The stock was acquired at an average cost 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 $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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