SCYNEXIS (NASDAQ:SCYX) Rating Lowered to “Buy” at Wall Street Zen

SCYNEXIS (NASDAQ:SCYX) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

Other analysts have also recently issued research reports about the stock. Brookline Capital Acquisition restated a “buy” rating on shares of SCYNEXIS in a research note on Monday, March 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of SCYNEXIS in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.00.

SCYNEXIS Trading Up 4.7%

NASDAQ:SCYX opened at $0.90 on Friday. SCYNEXIS has a 12-month low of $0.57 and a 12-month high of $1.31. The stock’s 50 day simple moving average is $0.75 and its 200-day simple moving average is $0.76. The firm has a market cap of $40.15 million, a P/E ratio of -5.29 and a beta of 1.33.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04). SCYNEXIS had a negative return on equity of 25.52% and a negative net margin of 41.79%.The company had revenue of $17.20 million for the quarter, compared to analyst estimates of $8.10 million.

Hedge Funds Weigh In On SCYNEXIS

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new stake in shares of SCYNEXIS in the fourth quarter valued at about $1,255,000. Vanguard Group Inc. increased its holdings in SCYNEXIS by 6.4% in the third 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. Sequoia Financial Advisors LLC acquired a new stake in shares of SCYNEXIS during the 3rd quarter valued at approximately $41,000. GSA Capital Partners LLP boosted its stake in shares of SCYNEXIS by 95.2% during the 3rd quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock worth $80,000 after acquiring an additional 50,916 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of SCYNEXIS in the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors 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.