Scynexis Inc. (SCYX) Shares Down 6%
Shares of Scynexis Inc. (NASDAQ:SCYX) were down 6% during trading on Tuesday . The company traded as low as $2.84 and last traded at $2.84, with a volume of 594,351 shares traded. The stock had previously closed at $3.02.
A number of analysts have commented on SCYX shares. Guggenheim started coverage on shares of Scynexis in a research report on Wednesday, August 17th. They set a “buy” rating and a $15.00 price target on the stock. Brean Capital restated a “buy” rating on shares of Scynexis in a research report on Monday, May 9th. Zacks Investment Research upgraded shares of Scynexis from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research report on Wednesday, June 15th. Needham & Company LLC restated a “buy” rating and set a $16.00 price target on shares of Scynexis in a research report on Thursday, June 9th. Finally, Canaccord Genuity restated a “buy” rating on shares of Scynexis in a research report on Tuesday, May 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Scynexis currently has an average rating of “Buy” and a consensus target price of $12.18.
The stock has a 50-day moving average of $2.18 and a 200 day moving average of $3.45. The firm’s market cap is $66.52 million.
Scynexis (NASDAQ:SCYX) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by $0.04. Equities analysts expect that Scynexis Inc. will post ($2.13) earnings per share for the current fiscal year.
In other Scynexis news, CFO Eric Francois purchased 15,000 shares of the stock in a transaction on Friday, June 24th. The shares were purchased at an average price of $2.39 per share, with a total value of $35,850.00. Following the acquisition, the chief financial officer now directly owns 15,000 shares of the company’s stock, valued at approximately $35,850. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marco Taglietti purchased 100,000 shares of the stock in a transaction on Friday, June 24th. The stock was acquired at an average cost of $2.39 per share, for a total transaction of $239,000.00. Following the acquisition, the chief executive officer now directly owns 225,000 shares in the company, 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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