SCYNEXIS (NASDAQ:SCYX) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of SCYNEXIS (NASDAQ:SCYX) in a research note issued to investors on Friday. The firm issued a sell rating on the stock.

SCYNEXIS Price Performance

SCYNEXIS stock opened at $0.79 on Friday. SCYNEXIS has a fifty-two week low of $0.73 and a fifty-two week high of $3.07. The firm has a fifty day moving average price of $0.95 and a two-hundred day moving average price of $1.08. The firm has a market cap of $30.79 million, a price-to-earnings ratio of -1.07 and a beta of 1.65.

SCYNEXIS (NASDAQ:SCYX) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.06. SCYNEXIS had a negative return on equity of 66.21% and a negative net margin of 425.41%. The business had revenue of $0.26 million during the quarter, compared to analysts’ expectations of $0.14 million.

Institutional Investors Weigh In On SCYNEXIS

Several hedge funds have recently modified their holdings of the business. Tabor Asset Management LP acquired a new position in SCYNEXIS during the 1st quarter valued at $181,000. Northern Trust Corp increased its holdings in shares of SCYNEXIS by 51.9% during the 4th quarter. Northern Trust Corp now owns 153,518 shares of the company’s stock worth $186,000 after purchasing an additional 52,466 shares during the period. Squarepoint Ops LLC acquired a new position in shares of SCYNEXIS during the fourth quarter valued at about $53,000. JPMorgan Chase & Co. bought a new stake in shares of SCYNEXIS in the fourth quarter valued at about $49,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of SCYNEXIS by 22.0% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 195,393 shares of the company’s stock valued at $236,000 after buying an additional 35,233 shares during the period. 54.37% of the stock is owned by institutional investors.

About SCYNEXIS

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.