Scynexis Inc. (SCYX) Shares Down 6%
Scynexis Inc. (NASDAQ:SCYX) was down 6% during mid-day trading on Tuesday . The company traded as low as $2.84 and last traded at $2.84, with a volume of 594,351 shares trading hands. The stock had previously closed at $3.02.
A number of equities research analysts recently issued reports on SCYX shares. Guggenheim started coverage on Scynexis in a research report on Wednesday, August 17th. They issued a “buy” rating and a $15.00 target price on the stock. Needham & Company LLC dropped their target price on 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 raised Scynexis from a “speculative buy” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Tuesday, August 9th. Brean Capital reissued a “buy” rating on shares of Scynexis in a research report on Monday, August 8th. Finally, Canaccord Genuity reissued 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 issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $12.18.
The company’s market cap is $67.70 million. The firm has a 50-day moving average of $2.22 and a 200-day moving average of $3.43.
Scynexis (NASDAQ:SCYX) last issued its quarterly 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 research analysts forecast that Scynexis Inc. will post ($2.13) earnings per share for the current fiscal year.
In other Scynexis news, CFO Eric Francois bought 15,000 shares of the business’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 transaction, the chief financial officer now directly owns 15,000 shares in the company, valued at $35,850. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gonzalez David Angulo bought 36,950 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The shares were acquired 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 in the company, valued at $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.