Scynexis Inc. (SCYX) Stock Price Up 1.8%
Scynexis Inc. (NASDAQ:SCYX)’s share price rose 1.8% during mid-day trading on Tuesday . The company traded as high as $2.30 and last traded at $2.23, with a volume of 244,737 shares traded. The stock had previously closed at $2.19.
SCYX has been the topic of a number of recent research reports. Zacks Investment Research raised Scynexis from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research report on Wednesday, June 15th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target on shares of Scynexis in a research report on Thursday, June 9th. Canaccord Genuity reissued a “buy” rating on shares of Scynexis in a research report on Thursday, June 9th. Finally, Brean Capital reissued a “buy” rating and set a $16.00 price target on shares of Scynexis in a research report on Thursday, June 9th. Six investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $12.71.
The firm has a 50 day moving average price of $2.98 and a 200 day moving average price of $4.18. The company’s market capitalization is $31.29 million.
Scynexis (NASDAQ:SCYX) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.52) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.11. On average, equities analysts anticipate that Scynexis Inc. will post ($2.27) earnings per share for the current fiscal year.
In related news, CEO Marco Taglietti acquired 100,000 shares of Scynexis stock in a transaction that occurred on Friday, June 24th. The shares were purchased at an average price of $2.39 per share, for a total transaction of $239,000.00. Following the completion of the transaction, the chief executive officer now owns 225,000 shares in the company, valued at approximately $537,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric Francois acquired 15,000 shares of Scynexis 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 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.