SCYNEXIS (NASDAQ:SCYX) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of SCYNEXIS (NASDAQ:SCYX) from a sell rating to a strong sell rating in a research report released on Saturday morning.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings raised shares of SCYNEXIS from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 24th. Brookline Capital Markets reiterated a “buy” rating on shares of SCYNEXIS in a research note on Friday, July 31st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.00.

SCYNEXIS Stock Down 1.5%

Shares of SCYX opened at $5.16 on Friday. SCYNEXIS has a 52 week low of $3.53 and a 52 week high of $10.48. The company has a market capitalization of $51.24 million, a price-to-earnings ratio of -1.34 and a beta of 1.09. The stock’s 50-day moving average price is $4.35 and its 200-day moving average price is $5.88.

SCYNEXIS (NASDAQ:SCYX) last posted its earnings results on Monday, August 10th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of ($0.51) by $1.14. SCYNEXIS had a negative return on equity of 57.16% and a negative net margin of 41.79%.The firm had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.08 million. As a group, equities analysts anticipate that SCYNEXIS will post -1.6 EPS for the current fiscal year.

Hedge Funds Weigh In On SCYNEXIS

A number of large investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new stake in SCYNEXIS in the second quarter valued at approximately $27,000. Bridgeway Capital Management LLC lifted its position in shares of SCYNEXIS by 4.2% during the 2nd 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 105,600 shares in the last quarter. Geode Capital Management LLC grew its stake in SCYNEXIS by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock valued at $284,000 after acquiring an additional 29,775 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new stake in SCYNEXIS in the 4th quarter valued at $1,255,000. 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.