Scynexis Inc. (SCYX) Trading Up 1.8%
Scynexis Inc. (NASDAQ:SCYX) was up 1.8% on Tuesday . The stock traded as high as $2.85 and last traded at $2.81, with a volume of 194,374 shares changing hands. The stock had previously closed at $2.76.
SCYX has been the topic of several recent research reports. Zacks Investment Research downgraded Scynexis from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Brean Capital reaffirmed a “buy” rating on shares of Scynexis in a report on Monday, May 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 report on Tuesday, August 9th. Guggenheim initiated coverage on Scynexis in a report on Wednesday, August 17th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Scynexis in a report on Thursday, June 9th. Seven equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $12.18.
The firm has a 50-day moving average of $2.28 and a 200-day moving average of $3.36. The firm’s market capitalization is $66.06 million.
Scynexis (NASDAQ:SCYX) last released 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 predict that Scynexis Inc. will post ($2.13) earnings per share for the current year.
In other news, insider Gonzalez David Angulo purchased 36,950 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were purchased at an average price of $2.22 per share, with a total value of $82,029.00. Following the completion of the acquisition, the insider now owns 8,850 shares in the company, valued at approximately $19,647. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Eric Francois purchased 15,000 shares of the firm’s stock in a transaction dated Friday, June 24th. The stock was purchased at an average cost of $2.39 per share, for a total transaction of $35,850.00. Following the acquisition, the chief financial officer now owns 15,000 shares of the company’s stock, valued at approximately $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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