SCYNEXIS (NASDAQ:SCYX) Stock Dropped to “Sell” by Wall Street Zen

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

Other equities analysts have also issued research reports about the company. Brookline Capital Markets reaffirmed a “buy” rating on shares of SCYNEXIS in a research note on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of SCYNEXIS in a research note on Thursday, October 22nd. Finally, Guggenheim reissued a “buy” rating and issued a $33.00 price target (up from $24.00) on shares of SCYNEXIS in a report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.00.

SCYNEXIS Stock Performance

SCYX opened at $3.50 on Friday. SCYNEXIS has a fifty-two week low of $3.28 and a fifty-two week high of $9.12. The firm’s fifty day moving average is $4.39 and its 200 day moving average is $5.48. The stock has a market cap of $34.83 million, a price-to-earnings ratio of -2.43 and a beta of 1.15.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.01. The business had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $0.13 million. On average, equities research analysts predict that SCYNEXIS will post -1.60 earnings per share for the current year.

Institutional Investors Weigh In On SCYNEXIS

Several large investors have recently added to or reduced their stakes in the stock. Empery Asset Management LP bought a new position in shares of SCYNEXIS in the second quarter worth about $514,656. ADAR1 Capital Management LLC purchased a new stake in SCYNEXIS in the 2nd quarter valued at about $201,000. Renaissance Technologies LLC boosted its position in SCYNEXIS by 27.6% in the 1st quarter. Renaissance Technologies LLC now owns 224,640 shares of the company’s stock valued at $206,000 after buying an additional 48,640 shares during the period. BlackRock Inc. bought a new position in SCYNEXIS in the 2nd quarter worth about $169,000. Finally, Velan Capital Investment Management LP purchased a new position in shares of SCYNEXIS during the second quarter worth approximately $163,000. 54.37% of the stock is owned by institutional investors.

About SCYNEXIS

SCYNEXIS, Inc is a biotechnology company focused on developing and commercializing innovative antifungal therapies for the treatment of serious and common fungal infections. The company’s research platform is centered on ibrexafungerp, a novel triterpenoid antifungal designed to inhibit glucan synthase, an enzyme important to the formation of fungal cell walls.

SCYNEXIS’s lead product, BREXAFEMME (ibrexafungerp tablets), is an oral antifungal approved in the United States for the treatment of vaginal yeast infections, also known as vulvovaginal candidiasis.