Scynexis Inc. (SCYX) Shares Up 21.4%
Scynexis Inc. (NASDAQ:SCYX)’s share price shot up 21.4% during mid-day trading on Wednesday . The stock traded as high as $2.75 and last traded at $2.50, with a volume of 5,893,795 shares changing hands. The stock had previously closed at $2.06.
Several brokerages recently issued reports on SCYX. Canaccord Genuity restated a “buy” rating on shares of Scynexis in a research note on Tuesday, May 10th. Zacks Investment Research upgraded Scynexis from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research note on Wednesday, June 15th. Needham & Company LLC restated a “buy” rating on shares of Scynexis in a research note on Tuesday, May 10th. Brean Capital restated a “buy” rating on shares of Scynexis in a research note on Monday, May 9th. Finally, WBB Securities upgraded 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, August 9th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $12.18.
The firm’s 50 day moving average price is $2.11 and its 200-day moving average price is $3.51. The company’s market cap is $60.67 million.
Scynexis (NASDAQ:SCYX) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.52) by $0.04. On average, analysts predict that Scynexis Inc. will post ($2.17) EPS for the current fiscal year.
In other news, CFO Eric Francois bought 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 24th. The stock was acquired at an average cost of $2.39 per share, for a total transaction of $35,850.00. Following the purchase, the chief financial officer now owns 15,000 shares of the company’s stock, valued at approximately $35,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gonzalez David Angulo bought 36,950 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The stock was purchased at an average price 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 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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