Scynexis Inc. (SCYX) Shares Up 9.1%
Shares of Scynexis Inc. (NASDAQ:SCYX) shot up 9.1% on Friday . The company traded as high as $2.09 and last traded at $2.04, with a volume of 297,603 shares traded. The stock had previously closed at $1.87.
Several research firms have recently commented on SCYX. Zacks Investment Research cut Scynexis from a “buy” rating to a “hold” rating in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price target on shares of Scynexis in a report on Thursday, June 9th. Canaccord Genuity reissued a “buy” rating on shares of Scynexis in a report on Thursday, June 9th. Finally, Brean Capital reaffirmed a “buy” rating and set a $16.00 price objective on shares of Scynexis in a report on Thursday, June 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $12.71.
The stock has a 50-day moving average of $2.76 and a 200 day moving average of $4.01. The stock’s market capitalization is $28.37 million.
Scynexis (NASDAQ:SCYX) last posted its earnings results on Monday, May 9th. The company reported ($0.52) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.11. Equities analysts predict that Scynexis Inc. will post ($2.27) EPS for the current year.
In related news, Director Guy Macdonald bought 40,000 shares of the stock in a transaction dated Friday, June 24th. The stock was bought at an average cost of $2.39 per share, with a total value of $95,600.00. Following the completion of the acquisition, the director now owns 40,000 shares of the company’s stock, valued at $95,600. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Marco Taglietti bought 100,000 shares of the stock in a transaction dated Friday, June 24th. The shares were bought 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 of the company’s stock, 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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