Scynexis Inc. (SCYX) Shares Down 2.4%
Shares of Scynexis Inc. (NASDAQ:SCYX) fell 2.4% during trading on Friday . The company traded as low as $2.77 and last traded at $2.80, with a volume of 112,069 shares. The stock had previously closed at $2.87.
A number of brokerages recently commented on SCYX. Canaccord Genuity reaffirmed a “buy” rating on shares of Scynexis in a research note on Tuesday, May 10th. Zacks Investment Research raised Scynexis from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research note on Wednesday, June 15th. Needham & Company LLC reaffirmed a “buy” rating on shares of Scynexis in a research note on Tuesday, May 10th. Brean Capital reaffirmed a “buy” rating on shares of Scynexis in a research note on Monday, May 9th. Finally, WBB Securities raised Scynexis from a “speculative buy” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Tuesday, August 9th. Seven analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $12.18.
The company’s 50-day moving average is $2.33 and its 200 day moving average is $3.35. The stock’s market capitalization is $64.65 million.
Scynexis (NASDAQ:SCYX) last issued its quarterly earnings data 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. On average, equities research analysts forecast that Scynexis Inc. will post ($2.13) EPS for the current fiscal year.
In other news, insider Gonzalez David Angulo acquired 36,950 shares of the firm’s stock in a transaction dated 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 acquisition, the insider now directly owns 8,850 shares of the company’s stock, valued at $19,647. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Eric Francois acquired 15,000 shares of the firm’s stock in a transaction dated Friday, June 24th. The shares were purchased at an average cost of $2.39 per share, for a total transaction of $35,850.00. Following the completion of the acquisition, the chief financial officer now directly 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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