Avidity Partners Management LP Acquires 129,284 Shares of SCYNEXIS, Inc. (NASDAQ:SCYX)

Avidity Partners Management LP increased its position in shares of SCYNEXIS, Inc. (NASDAQ:SCYX) by 9.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,448,728 shares of the company’s stock after buying an additional 129,284 shares during the period. Avidity Partners Management LP owned 3.89% of SCYNEXIS worth $3,231,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SCYX. Decheng Capital LLC bought a new stake in shares of SCYNEXIS during the 4th quarter worth $1,239,000. AMH Equity Ltd boosted its holdings in shares of SCYNEXIS by 134.4% during the 4th quarter. AMH Equity Ltd now owns 550,400 shares of the company’s stock worth $1,227,000 after buying an additional 315,612 shares during the period. Acadian Asset Management LLC bought a new stake in shares of SCYNEXIS during the 3rd quarter worth $673,000. Kingdon Capital Management L.L.C. boosted its holdings in SCYNEXIS by 8.7% in the 3rd quarter. Kingdon Capital Management L.L.C. now owns 1,877,148 shares of the company’s stock valued at $4,280,000 after purchasing an additional 150,157 shares during the period. Finally, D.A. Davidson & CO. boosted its holdings in SCYNEXIS by 34.0% in the 3rd quarter. D.A. Davidson & CO. now owns 486,326 shares of the company’s stock valued at $1,109,000 after purchasing an additional 123,325 shares during the period. 54.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on SCYX shares. Cantor Fitzgerald reissued an “overweight” rating on shares of SCYNEXIS in a report on Monday, April 1st. StockNews.com downgraded shares of SCYNEXIS from a “buy” rating to a “hold” rating in a report on Monday, March 18th.

SCYNEXIS Stock Performance

Shares of SCYX stock traded up $0.14 during mid-day trading on Tuesday, reaching $2.21. The company’s stock had a trading volume of 109,665 shares, compared to its average volume of 229,823. SCYNEXIS, Inc. has a 1-year low of $1.35 and a 1-year high of $3.87. The company has a market cap of $83.49 million, a P/E ratio of 1.01 and a beta of 1.53. The firm’s 50-day moving average is $1.93 and its two-hundred day moving average is $1.82.

SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $1.37 million during the quarter. SCYNEXIS had a net margin of 72.18% and a return on equity of 112.89%. Sell-side analysts anticipate that SCYNEXIS, Inc. will post -0.01 EPS for the current year.

SCYNEXIS 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.