SCYNEXIS (NASDAQ:SCYX) Announces Quarterly Earnings Results

SCYNEXIS (NASDAQ:SCYX) released its earnings results on Wednesday. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04), FiscalAI reports. SCYNEXIS had a negative return on equity of 60.54% and a negative net margin of 862.89%.The firm had revenue of $17.20 million for the quarter, compared to the consensus estimate of $8.10 million.

SCYNEXIS Price Performance

Shares of SCYX stock traded up $0.02 during trading hours on Wednesday, reaching $0.78. The stock had a trading volume of 447,966 shares, compared to its average volume of 413,469. SCYNEXIS has a twelve month low of $0.57 and a twelve month high of $1.31. The firm has a 50-day simple moving average of $0.71 and a 200-day simple moving average of $0.75. The firm has a market capitalization of $32.53 million, a PE ratio of -1.52 and a beta of 1.33.

Institutional Investors Weigh In On SCYNEXIS

Several large investors have recently made changes to their positions in SCYX. Jane Street Group LLC bought a new stake in shares of SCYNEXIS during the second quarter valued at approximately $27,000. Bridgeway Capital Management LLC increased its position in SCYNEXIS by 4.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock valued at $248,000 after acquiring an additional 14,689 shares during the period. Geode Capital Management LLC raised its stake in SCYNEXIS by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock valued at $284,000 after acquiring an additional 29,775 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in SCYNEXIS during the 4th quarter valued at $1,255,000. Finally, Vanguard Group Inc. boosted its position in SCYNEXIS by 6.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock worth $1,357,000 after acquiring an additional 105,600 shares during the period. Institutional investors and hedge funds own 54.37% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of SCYNEXIS in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.00.

About SCYNEXIS

SCYNEXIS, Inc is a late‐stage biopharmaceutical company focused on developing and commercializing novel anti‐infective therapies. Headquartered in Jersey City, New Jersey, the company’s primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS’s scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company’s lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.