Scynexis Inc. (SCYX) Shares Down 2.8%
Scynexis Inc. (NASDAQ:SCYX)’s share price fell 2.8% during mid-day trading on Monday . The stock traded as low as $2.06 and last traded at $2.10, with a volume of 269,107 shares. The stock had previously closed at $2.16.
Several brokerages have issued reports on SCYX. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Scynexis in a report on Thursday, June 9th. Canaccord Genuity reaffirmed a “buy” rating on shares of Scynexis in a report on Tuesday, May 10th. Brean Capital reaffirmed a “buy” rating on shares of Scynexis in a report on Monday, August 8th. Zacks Investment Research raised Scynexis from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a report on Wednesday, June 15th. Finally, WBB Securities raised Scynexis from a “speculative buy” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Scynexis presently has an average rating of “Buy” and a consensus price target of $11.71.
The company’s market cap is $50.13 million. The stock has a 50-day moving average price of $2.11 and a 200-day moving average price of $3.52.
Scynexis (NASDAQ:SCYX) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by $0.04. On average, equities research analysts expect that Scynexis Inc. will post ($2.26) EPS for the current year.
In other Scynexis news, CEO Marco Taglietti acquired 100,000 shares of the stock in a transaction that occurred on Friday, June 24th. The stock was acquired at an average price of $2.39 per share, with a total value of $239,000.00. Following the transaction, the chief executive officer now directly owns 225,000 shares in the company, valued at $537,750. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Eric Francois acquired 15,000 shares of the stock in a transaction that occurred on Friday, June 24th. The shares were acquired at an average cost of $2.39 per share, with a total value of $35,850.00. Following the transaction, the chief financial officer now owns 15,000 shares in the company, valued at $35,850. 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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