Scynexis Inc. (SCYX) Trading 9.1% Higher
Scynexis Inc. (NASDAQ:SCYX) traded 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 trading hands. The stock had previously closed at $1.87.
A number of equities research analysts have recently weighed in on the company. Canaccord Genuity reaffirmed a “buy” rating on shares of Scynexis in a report on Tuesday, May 10th. Zacks Investment Research raised Scynexis from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a report on Wednesday, June 15th. Needham & Company LLC reissued a “buy” rating on shares of Scynexis in a report on Tuesday, May 10th. Finally, Brean Capital began coverage on Scynexis in a report on Monday, March 28th. They set a “buy” rating and a $16.00 target price on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.71.
The company’s market cap is $28.37 million. The stock’s 50-day moving average is $2.76 and its 200-day moving average is $4.01.
Scynexis (NASDAQ:SCYX) last announced its quarterly earnings results on Monday, May 9th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.11. Equities analysts forecast that Scynexis Inc. will post ($2.27) EPS for the current fiscal year.
In other Scynexis news, CFO Eric Francois purchased 15,000 shares of the business’s stock in a transaction on Friday, June 24th. The stock was purchased at an average price of $2.39 per share, for a total transaction of $35,850.00. Following the completion of the purchase, 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 SEC, which can be accessed through the SEC website. Also, CEO Marco Taglietti purchased 100,000 shares of the business’s stock in a transaction on Friday, June 24th. The shares were acquired at an average price of $2.39 per share, with a total value of $239,000.00. Following the purchase, the chief executive officer now owns 225,000 shares of the company’s stock, valued at $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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