SCYNEXIS (NASDAQ:SCYX) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of SCYNEXIS (NASDAQ:SCYX) from a buy rating to a hold rating in a report issued on Monday morning.

A number of other analysts also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SCYNEXIS in a research note on Monday, December 29th. reiterated a “buy” rating on shares of SCYNEXIS in a research report on Monday, March 9th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, SCYNEXIS presently has an average rating of “Hold” and an average target price of $3.00.

SCYNEXIS Stock Down 6.1%

Shares of SCYNEXIS stock opened at $0.88 on Monday. The firm has a market cap of $39.10 million, a price-to-earnings ratio of -5.15 and a beta of 1.32. The business has a 50-day moving average price of $0.78 and a 200-day moving average price of $0.76. SCYNEXIS has a twelve month low of $0.57 and a twelve month high of $1.31.

SCYNEXIS (NASDAQ:SCYX) last issued its earnings results on Wednesday, March 4th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). SCYNEXIS had a negative return on equity of 25.52% and a negative net margin of 41.79%.The firm had revenue of $17.20 million during the quarter, compared to the consensus estimate of $8.10 million.

Institutional Trading of SCYNEXIS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCYX. Goldman Sachs Group Inc. purchased a new position in shares of SCYNEXIS during the fourth quarter valued at approximately $1,255,000. Geode Capital Management LLC raised its holdings in shares of SCYNEXIS by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after buying an additional 29,775 shares during the period. GSA Capital Partners LLP raised its holdings in shares of SCYNEXIS by 95.2% in the third quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock worth $80,000 after buying an additional 50,916 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of SCYNEXIS during the 3rd quarter worth approximately $41,000. 54.37% of the stock is owned by hedge funds and other institutional investors.

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.