Scynexis Inc. (SCYX) Sees Strong Trading Volume
Shares of Scynexis Inc. (NASDAQ:SCYX) saw strong trading volume on Thursday . 4,859,515 shares were traded 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.
Several research analysts recently weighed in on the stock. WBB Securities raised shares of Scynexis from a “speculative buy” rating to a “buy” rating and set a $8.00 target price for the company in a report on Tuesday, August 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. Needham & Company LLC decreased 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, August 9th. Canaccord Genuity reiterated a “buy” rating 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 investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.18.
The stock’s 50 day moving average is $2.16 and its 200 day moving average is $3.48. The firm’s market cap is $65.59 million.
Scynexis (NASDAQ:SCYX) last issued its earnings results on Monday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by $0.04. On average, equities analysts anticipate that Scynexis Inc. will post ($2.13) earnings per share for the current fiscal year.
In other news, CFO Eric Francois purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The shares were bought 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 in the company, valued at $35,850. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gonzalez David Angulo purchased 36,950 shares of the company’s stock in a transaction that occurred 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 transaction, 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.
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.