Scynexis Inc. (SCYX) Trading Down 2.7%
Shares of Scynexis Inc. (NASDAQ:SCYX) were down 2.7% during mid-day trading on Thursday . The company traded as low as $2.16 and last traded at $2.19, with a volume of 326,452 shares traded. The stock had previously closed at $2.25.
A number of analysts have recently issued reports on SCYX shares. Brean Capital reissued a “buy” rating on shares of Scynexis in a research report on Monday, May 9th. Canaccord Genuity reissued a “buy” rating on shares of Scynexis in a research report on Monday, April 18th. Zacks Investment Research raised shares of Scynexis from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research report on Wednesday, June 15th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Scynexis in a research report on Tuesday, May 10th. Six investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $12.71.
The firm’s 50-day moving average is $2.93 and its 200 day moving average is $4.14. The firm’s market cap is $30.73 million.
Scynexis (NASDAQ:SCYX) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.52) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.11. On average, equities research analysts expect that Scynexis Inc. will post ($2.27) EPS for the current year.
In other news, CFO Eric Francois acquired 15,000 shares of the company’s stock in a transaction on Friday, June 24th. The stock was purchased at an average cost of $2.39 per share, with a total value 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marco Taglietti acquired 100,000 shares of the company’s stock in a transaction on Friday, June 24th. The shares were purchased at an average cost of $2.39 per share, with a total value of $239,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 225,000 shares in the company, valued at approximately $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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