Scynexis Inc. (NASDAQ:SCYX) shares dropped 2.8% during trading on Monday . The company traded as low as $2.06 and last traded at $2.10, with a volume of 269,107 shares trading hands. The stock had previously closed at $2.16.

SCYX has been the topic of a number of research analyst reports. Brean Capital reiterated a “buy” rating on shares of Scynexis in a research note on Monday, May 9th. Zacks Investment Research upgraded shares of Scynexis from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research note on Wednesday, June 15th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price objective on shares of Scynexis in a research note on Thursday, June 9th. Canaccord Genuity reiterated a “buy” rating on shares of Scynexis in a research note on Tuesday, May 10th. Finally, WBB Securities upgraded shares of Scynexis from a “speculative buy” rating to a “buy” rating and set a $8.00 price objective 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 assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $11.71.

The firm’s market capitalization is $58.56 million. The firm has a 50 day moving average price of $2.11 and a 200 day moving average price of $3.51.

Scynexis (NASDAQ:SCYX) last issued its earnings results on Monday, August 8th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.52) by $0.04. On average, equities analysts predict that Scynexis Inc. will post ($2.26) EPS for the current fiscal year.

In other news, Director Guy Macdonald purchased 40,000 shares of Scynexis stock in a transaction on Friday, June 24th. The shares were purchased at an average cost of $2.39 per share, for a total transaction of $95,600.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at $95,600. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Eric Francois purchased 15,000 shares of Scynexis stock in a transaction on 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 transaction, the chief financial officer now owns 15,000 shares of the company’s stock, valued at $35,850. 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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