Scynexis Inc. (SCYX) Shares Down 7%
Shares of Scynexis Inc. (NASDAQ:SCYX) fell 7% during trading on Monday . The company traded as low as $2.08 and last traded at $2.13, with a volume of 264,911 shares traded. The stock had previously closed at $2.29.
A number of research firms recently commented on SCYX. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Scynexis in a report on Thursday, June 9th. Canaccord Genuity reiterated a “buy” rating on shares of Scynexis in a report on Tuesday, May 10th. Brean Capital reiterated a “buy” rating and issued a $16.00 target price on shares of Scynexis in a report on Thursday, June 9th. Finally, Zacks Investment Research upgraded shares of Scynexis from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a report on Wednesday, June 15th. One analyst has rated the stock with a hold rating and five have assigned 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 stock’s 50 day moving average price is $2.42 and its 200-day moving average price is $3.80. The stock’s market cap is $29.20 million.
Scynexis (NASDAQ:SCYX) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.52) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.11. Equities research analysts forecast that Scynexis Inc. will post ($2.27) EPS for the current fiscal year.
In related news, CFO Eric Francois bought 15,000 shares of the stock in a transaction dated Friday, June 24th. The shares were acquired at an average cost of $2.39 per share, for a total transaction of $35,850.00. Following the acquisition, the chief financial officer now directly owns 15,000 shares in the company, valued at approximately $35,850. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gonzalez David Angulo bought 36,950 shares of the stock in a transaction dated Thursday, June 30th. The shares were bought at an average price of $2.22 per share, for a total transaction of $82,029.00. Following the completion of the acquisition, the insider now 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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