Scynexis Inc. (SCYX) Trading Up 3.4%
Scynexis Inc. (NASDAQ:SCYX)’s share price was up 3.4% during mid-day trading on Wednesday . The company traded as high as $2.15 and last traded at $2.11, with a volume of 132,193 shares traded. The stock had previously closed at $2.04.
A number of equities analysts recently issued reports on SCYX shares. WBB Securities upgraded shares of Scynexis from a “speculative buy” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Tuesday. Needham & Company LLC dropped their price target on shares of Scynexis from $16.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday. Canaccord Genuity reiterated a “buy” rating on shares of Scynexis in a research note on Thursday, June 9th. Brean Capital reiterated a “buy” rating and issued a $16.00 price target on shares of Scynexis in a research note on Thursday, June 9th. Finally, Zacks Investment Research cut shares of Scynexis from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $11.71.
The company’s market cap is $50.40 million. The stock’s 50-day moving average is $2.12 and its 200-day moving average is $3.58.
Scynexis (NASDAQ:SCYX) last released its earnings results on Monday, August 8th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by $0.04. On average, equities analysts forecast that Scynexis Inc. will post ($2.02) earnings per share for the current fiscal year.
In other news, Director Guy Macdonald purchased 40,000 shares of the business’s stock in a transaction dated Friday, June 24th. The shares were purchased at an average price of $2.39 per share, for a total transaction of $95,600.00. Following the completion of the purchase, the director now owns 40,000 shares in the company, valued at approximately $95,600. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gonzalez David Angulo purchased 36,950 shares of the business’s stock in a transaction dated Thursday, June 30th. The shares were purchased at an average price of $2.22 per share, for a total transaction of $82,029.00. Following the purchase, 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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