SCYNEXIS Inc (NASDAQ:SCYX) dropped 0% during mid-day trading on Monday . The company traded as low as $1.99 and last traded at $2.07. Approximately 601,376 shares were traded during mid-day trading, an increase of 40% from the average daily volume of 430,835 shares. The stock had previously closed at $2.07.

SCYX has been the topic of a number of recent research reports. Zacks Investment Research upgraded SCYNEXIS from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a research note on Tuesday, November 14th. Guggenheim initiated coverage on SCYNEXIS in a research note on Tuesday, October 24th. They issued a “buy” rating and a $6.00 target price on the stock. Finally, ValuEngine upgraded SCYNEXIS from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $8.43.

The stock has a market capitalization of $59.12, a price-to-earnings ratio of -2.56 and a beta of 0.36. The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.43.

Several institutional investors and hedge funds have recently modified their holdings of SCYX. National Asset Management Inc. acquired a new position in shares of SCYNEXIS during the second quarter valued at $551,000. DAFNA Capital Management LLC increased its holdings in shares of SCYNEXIS by 32.7% during the second quarter. DAFNA Capital Management LLC now owns 506,900 shares of the company’s stock valued at $907,000 after purchasing an additional 125,000 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of SCYNEXIS during the third quarter valued at $264,000. Vanguard Group Inc. increased its holdings in shares of SCYNEXIS by 6.0% during the second quarter. Vanguard Group Inc. now owns 868,394 shares of the company’s stock valued at $1,554,000 after purchasing an additional 48,978 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of SCYNEXIS by 33.7% during the second quarter. GSA Capital Partners LLP now owns 176,700 shares of the company’s stock valued at $316,000 after purchasing an additional 44,500 shares during the period. 30.90% of the stock is currently owned by institutional investors.

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SCYNEXIS Company Profile

SCYNEXIS, Inc is engaged in the discovery, development and commercialization of anti-infectives. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of several fungal infections, including serious invasive fungal infections. SCY-078 is a structurally distinct glucan synthase inhibitor that has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species, including drug-resistant strains.

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