Shares of SCYNEXIS, Inc. (NASDAQ:SCYX) were up 2% during trading on Thursday . The company traded as high as $2.48 and last traded at $2.39. 261,032 shares were traded during mid-day trading, an increase of 2% from the average session volume of 256,166 shares. The stock had previously closed at $2.44.

Several equities analysts have commented on SCYX shares. Aegis reissued a “buy” rating on shares of SCYNEXIS in a research report on Tuesday, May 30th. Zacks Investment Research lowered SCYNEXIS from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine raised SCYNEXIS from a “strong sell” rating to a “sell” rating in a research report on Friday, July 14th. Roth Capital started coverage on SCYNEXIS in a research report on Monday, July 10th. They set a “buy” rating and a $8.50 price objective for the company. Finally, HC Wainwright set a $14.00 price objective on SCYNEXIS and gave the company a “buy” rating in a research report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $10.25.

The company’s 50-day moving average is $1.84 and its 200 day moving average is $2.08. The stock’s market capitalization is $61.73 million.

Hedge funds have recently modified their holdings of the business. Iguana Healthcare Management LLC lifted its holdings in shares of SCYNEXIS by 20.0% in the 1st quarter. Iguana Healthcare Management LLC now owns 300,000 shares of the company’s stock worth $828,000 after buying an additional 50,000 shares during the period. Federated Investors Inc. PA lifted its holdings in shares of SCYNEXIS by 23.5% in the 2nd quarter. Federated Investors Inc. PA now owns 4,208,400 shares of the company’s stock worth $7,533,000 after buying an additional 800,040 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of SCYNEXIS by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 37,523 shares of the company’s stock worth $103,000 after buying an additional 512 shares during the period. KCG Holdings Inc. purchased a new stake in shares of SCYNEXIS in the 1st quarter worth $416,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of SCYNEXIS in the 1st quarter worth $154,000. Institutional investors and hedge funds own 36.75% of the company’s stock.

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SCYNEXIS Company Profile

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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