SCYNEXIS (NASDAQ:SCYX) Releases Quarterly Earnings Results, Beats Expectations By $1.14 EPS

SCYNEXIS (NASDAQ:SCYX) posted its earnings results on Monday. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $1.14, FiscalAI reports. The business had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.08 million. SCYNEXIS had a negative net margin of 41.79% and a negative return on equity of 57.16%.

SCYNEXIS Price Performance

Shares of NASDAQ:SCYX opened at $5.16 on Tuesday. The business’s fifty day moving average price is $4.35 and its two-hundred day moving average price is $5.88. SCYNEXIS has a fifty-two week low of $3.53 and a fifty-two week high of $10.48. The stock has a market capitalization of $51.24 million, a price-to-earnings ratio of -1.34 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen downgraded SCYNEXIS from a “sell” rating to a “strong sell” rating in a research note on Saturday. Brookline Capital Markets reissued a “buy” rating on shares of SCYNEXIS in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of SCYNEXIS from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, SCYNEXIS presently has a consensus rating of “Hold” and an average target price of $24.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC grew its holdings in SCYNEXIS by 4.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after acquiring an additional 14,689 shares during the last quarter. Geode Capital Management LLC raised its position in SCYNEXIS by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after purchasing an additional 29,775 shares during the last quarter. Jane Street Group LLC acquired a new position in SCYNEXIS during the 2nd quarter worth $27,000. Vanguard Group Inc. lifted its holdings 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 buying an additional 105,600 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in SCYNEXIS in the 4th quarter valued at $1,255,000. Institutional investors and hedge funds own 54.37% of the company’s stock.

SCYNEXIS Company Profile

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.