SCYNEXIS (NASDAQ:SCYX) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of SCYNEXIS (NASDAQ:SCYX) in a report issued on Thursday morning. The brokerage issued a hold rating on the stock.

SCYNEXIS Trading Up 4.4 %

Shares of NASDAQ SCYX opened at $1.03 on Thursday. The company’s 50-day moving average price is $0.95 and its 200 day moving average price is $1.12. SCYNEXIS has a 52 week low of $0.73 and a 52 week high of $3.07. The stock has a market cap of $39.98 million, a price-to-earnings ratio of -1.39 and a beta of 1.71.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings results on Wednesday, March 12th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.13. SCYNEXIS had a negative net margin of 425.41% and a negative return on equity of 66.21%. The business had revenue of $0.98 million for the quarter.

Institutional Trading of SCYNEXIS

Several institutional investors and hedge funds have recently made changes to their positions in SCYX. Two Sigma Securities LLC acquired a new position in SCYNEXIS in the 4th quarter valued at about $25,000. Millennium Management LLC purchased a new stake in shares of SCYNEXIS during the fourth quarter worth about $31,000. AMH Equity Ltd raised its position in shares of SCYNEXIS by 4.3% in the fourth quarter. AMH Equity Ltd now owns 626,052 shares of the company’s stock valued at $758,000 after buying an additional 26,052 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of SCYNEXIS during the fourth quarter valued at approximately $32,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in SCYNEXIS by 22.0% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 195,393 shares of the company’s stock worth $236,000 after acquiring an additional 35,233 shares during the last quarter. 54.37% of the stock is currently owned by hedge funds and other institutional investors.

SCYNEXIS Company Profile

SCYNEXIS, Inc, a biotechnology company, develops medicines to overcome and prevent difficult-to-treat and drug-resistant infections in the United States. It offers BREXAFEMME for the treatment of patients with vulvovaginal candidiasis (VVC) and recurrent VVC. The company's lead product candidate is Ibrexafungerp, an intravenous drug for the treatment of invasive candidiasis and/or candidemia, refractory invasive fungal infections, invasive aspergillosis, VVC, and recurrent VVC.