Scynexis Inc. (SCYX) Shares Down 1.9%
Scynexis Inc. (NASDAQ:SCYX) fell 1.9% during trading on Friday . The stock traded as low as $2.00 and last traded at $2.04, with a volume of 65,609 shares traded. The stock had previously closed at $2.08.
Several research firms recently commented on SCYX. Brean Capital reiterated a “buy” rating and issued a $16.00 price objective on shares of Scynexis in a research report on Thursday, June 9th. Canaccord Genuity reiterated a “buy” rating on shares of Scynexis in a research report on Monday, April 18th. Needham & Company LLC reiterated a “buy” rating on shares of Scynexis in a research report on Tuesday, May 10th. Finally, Zacks Investment Research lowered shares of Scynexis from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Scynexis has an average rating of “Buy” and an average target price of $12.71.
The firm’s 50-day moving average is $2.15 and its 200 day moving average is $3.66. The stock’s market capitalization is $28.92 million.
Scynexis (NASDAQ:SCYX) last issued its earnings results 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, analysts expect that Scynexis Inc. will post ($2.01) earnings per share for the current fiscal year.
In other Scynexis news, CEO Marco Taglietti purchased 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 owns 225,000 shares of the company’s stock, valued at $537,750. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Gonzalez David Angulo purchased 36,950 shares of the stock in a transaction dated Thursday, June 30th. The shares were acquired at an average cost of $2.22 per share, for a total transaction of $82,029.00. Following the completion of the acquisition, the insider now directly owns 8,850 shares of the company’s stock, valued at approximately $19,647. 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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