Scynexis Inc. (SCYX) Sees Large Volume Increase
Shares of Scynexis Inc. (NASDAQ:SCYX) saw unusually-high trading volume on Thursday . Approximately 4,859,515 shares traded hands during mid-day trading, an increase of 450% from the previous session’s volume of 884,094 shares.The stock last traded at $2.87 and had previously closed at $2.59.
SCYX has been the topic of several research reports. Guggenheim initiated coverage on shares of Scynexis in a research report on Wednesday. They issued a “buy” rating and a $15.00 price target on the stock. Needham & Company LLC reduced their price target on shares of Scynexis from $16.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. 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 report on Tuesday, August 9th. Brean Capital restated a “buy” rating on shares of Scynexis in a research report on Monday, August 8th. Finally, Canaccord Genuity restated a “buy” rating on shares of Scynexis in a research report on Thursday, June 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $12.18.
The stock’s market cap is $65.59 million. The firm’s 50-day moving average price is $2.12 and its 200-day moving average price is $3.50.
Scynexis (NASDAQ:SCYX) last announced its earnings results on Monday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by $0.04. On average, equities analysts expect that Scynexis Inc. will post ($2.13) EPS for the current fiscal year.
In other news, insider Gonzalez David Angulo acquired 36,950 shares of the firm’s stock in a transaction on 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 acquisition, the insider now owns 8,850 shares of the company’s stock, valued at approximately $19,647. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marco Taglietti acquired 100,000 shares of the firm’s 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 $239,000.00. Following the acquisition, the chief executive officer now directly owns 225,000 shares in the company, valued at approximately $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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.