Scynexis Inc. (SCYX) Stock Price Up 21.4%
Scynexis Inc. (NASDAQ:SCYX) shares rose 21.4% during mid-day trading on Wednesday . The company traded as high as $2.75 and last traded at $2.50, with a volume of 5,893,795 shares trading hands. The stock had previously closed at $2.06.
SCYX has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Scynexis from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research report on Wednesday, June 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Scynexis in a research note on Thursday, June 9th. Canaccord Genuity reaffirmed a “buy” rating on shares of Scynexis in a research note on Thursday, June 9th. Brean Capital reaffirmed a “buy” rating and issued a $16.00 price target on shares of Scynexis in a research note on Thursday, June 9th. Finally, Guggenheim started coverage on Scynexis in a research note on Wednesday. They issued a “buy” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $12.18.
The stock has a 50 day moving average price of $2.14 and a 200-day moving average price of $3.50. The firm’s market capitalization is $65.59 million.
Scynexis (NASDAQ:SCYX) last released its earnings results on Monday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.52) by $0.04. Equities analysts anticipate that Scynexis Inc. will post ($2.13) earnings per share for the current year.
In other Scynexis news, insider Gonzalez David Angulo bought 36,950 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 8,850 shares in the company, valued at approximately $19,647. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marco Taglietti bought 100,000 shares of the firm’s stock in a transaction on Friday, June 24th. The stock was acquired at an average price of $2.39 per share, for a total transaction of $239,000.00. Following the transaction, the chief executive officer now 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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