SCYNEXIS (NASDAQ:SCYX) Announces Earnings Results, Misses Estimates By $0.04 EPS

SCYNEXIS (NASDAQ:SCYX) released its quarterly earnings results on Wednesday. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04), FiscalAI reports. SCYNEXIS had a negative net margin of 41.79% and a negative return on equity of 26.33%. The company had revenue of $17.20 million during the quarter, compared to the consensus estimate of $8.10 million.

SCYNEXIS Stock Up 0.9%

Shares of NASDAQ:SCYX traded up $0.01 during midday trading on Friday, hitting $0.80. The stock had a trading volume of 934,000 shares, compared to its average volume of 426,221. The company’s 50-day moving average price is $0.72 and its 200-day moving average price is $0.75. SCYNEXIS has a fifty-two week low of $0.57 and a fifty-two week high of $1.31. The company has a market capitalization of $33.58 million, a P/E ratio of -4.71 and a beta of 1.33.

Institutional Investors Weigh In On SCYNEXIS

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in SCYNEXIS in the second quarter valued at about $27,000. Bridgeway Capital Management LLC increased its stake in shares of SCYNEXIS by 4.2% in the second quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock valued at $248,000 after buying an additional 14,689 shares during the period. Geode Capital Management LLC increased its stake in shares of SCYNEXIS by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock valued at $284,000 after buying an additional 29,775 shares during the period. Vanguard Group Inc. raised its holdings in SCYNEXIS by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock valued at $1,357,000 after buying an additional 105,600 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in SCYNEXIS during the 4th quarter worth approximately $1,255,000. 54.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of SCYNEXIS in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.00.

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.