SCYNEXIS (NASDAQ:SCYX – Get Free Report) was downgraded by Wall Street Zen from a “buy” rating to a “sell” rating in a report released on Saturday.
Separately, reissued a “buy” rating on shares of SCYNEXIS in a report on Monday, March 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.00.
Check Out Our Latest Report on SCYNEXIS
SCYNEXIS Stock Performance
SCYNEXIS (NASDAQ:SCYX – Get Free Report) last issued its earnings results on Monday, May 11th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.32). SCYNEXIS had a negative net margin of 41.79% and a negative return on equity of 57.16%. On average, sell-side analysts predict that SCYNEXIS will post -0.2 EPS for the current year.
Institutional Trading of SCYNEXIS
Several hedge funds have recently modified their holdings of SCYX. Jane Street Group LLC bought a new position in shares of SCYNEXIS in the second quarter valued at approximately $27,000. Bridgeway Capital Management LLC grew its position 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. Sequoia Financial Advisors LLC bought a new stake in SCYNEXIS during the 3rd quarter worth approximately $41,000. Vanguard Group Inc. increased 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 valued at $1,357,000 after purchasing an additional 105,600 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in SCYNEXIS by 95.2% during the 3rd quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock valued at $80,000 after purchasing an additional 50,916 shares in the last quarter. Institutional investors and hedge funds own 54.37% of the company’s stock.
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.
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