Scynexis Inc. (SCYX) Trading 3.4% Higher
Scynexis Inc. (NASDAQ:SCYX) shares traded up 3.4% during mid-day trading on Wednesday . The stock traded as high as $2.15 and last traded at $2.11, with a volume of 132,193 shares changing hands. The stock had previously closed at $2.04.
Several research analysts have recently issued reports on the company. Brean Capital reaffirmed a “buy” rating on shares of Scynexis in a research note on Monday. Canaccord Genuity reiterated a “buy” rating on shares of Scynexis in a report on Tuesday, May 10th. Zacks Investment Research upgraded 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. Needham & Company LLC reiterated a “buy” rating on shares of Scynexis in a report on Tuesday, May 10th. Finally, WBB Securities upgraded Scynexis from a “speculative buy” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Tuesday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Scynexis has an average rating of “Buy” and a consensus price target of $11.71.
The firm’s market cap is $48.72 million. The stock has a 50-day moving average price of $2.12 and a 200-day moving average price of $3.60.
Scynexis (NASDAQ:SCYX) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.52) by $0.04. On average, equities analysts anticipate that Scynexis Inc. will post ($2.02) earnings per share for the current fiscal year.
In other Scynexis news, CFO Eric Francois purchased 15,000 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, for a total transaction of $35,850.00. Following the completion of the purchase, the chief financial officer now directly owns 15,000 shares of the company’s stock, valued at $35,850. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marco Taglietti purchased 100,000 shares of the firm’s stock in a transaction dated 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 directly 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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