Scynexis Inc. (SCYX) Shares Up 3.4%
Scynexis Inc. (NASDAQ:SCYX) shares shot up 3.4% on Thursday . The company traded as high as $2.16 and last traded at $2.14, with a volume of 223,759 shares changing hands. The stock had previously closed at $2.07.
A number of research firms have weighed in on SCYX. Canaccord Genuity reaffirmed a “buy” rating on shares of Scynexis in a research note on Tuesday, May 10th. Zacks Investment Research upgraded shares of Scynexis from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a report on Wednesday, June 15th. Needham & Company LLC reiterated a “buy” rating on shares of Scynexis in a report on Tuesday, May 10th. Finally, Brean Capital started coverage on shares of Scynexis in a report on Monday, March 28th. They issued a “buy” rating and a $16.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Scynexis presently has an average rating of “Buy” and a consensus price target of $12.71.
The company’s market capitalization is $31.84 million. The stock has a 50 day moving average price of $2.53 and a 200-day moving average price of $3.88.
Scynexis (NASDAQ:SCYX) last issued its quarterly earnings data on Monday, May 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.11. Analysts forecast that Scynexis Inc. will post ($2.27) EPS for the current fiscal year.
In related news, insider Gonzalez David Angulo acquired 36,950 shares of Scynexis stock in a transaction on Thursday, June 30th. The shares were acquired at an average cost of $2.22 per share, with a total value of $82,029.00. Following the transaction, the insider now owns 8,850 shares in the company, valued at $19,647. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marco Taglietti acquired 100,000 shares of Scynexis stock in a transaction on Friday, June 24th. The shares were bought at an average cost 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 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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