SCYNEXIS (NASDAQ:SCYX) Shares Pass Below Two Hundred Day Moving Average of $1.82

SCYNEXIS, Inc. (NASDAQ:SCYX) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.82 and traded as low as $1.45. SCYNEXIS shares last traded at $1.53, with a volume of 107,075 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of SCYNEXIS from a “hold” rating to a “sell” rating in a research report on Monday, August 12th.

SCYNEXIS Stock Performance

The company has a fifty day moving average of $1.72 and a two-hundred day moving average of $1.82. The company has a market cap of $57.80 million, a PE ratio of 0.75 and a beta of 1.50.

SCYNEXIS (NASDAQ:SCYX) last issued its earnings results on Thursday, August 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). SCYNEXIS had a negative net margin of 366.09% and a negative return on equity of 57.41%. The company had revenue of $0.74 million for the quarter. On average, equities analysts forecast that SCYNEXIS, Inc. will post -0.68 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Gonzalez David Angulo acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average cost of $1.37 per share, for a total transaction of $27,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 507,871 shares of the company’s stock, valued at approximately $695,783.27. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.85% of the company’s stock.

Institutional Trading of SCYNEXIS

A number of institutional investors have recently modified their holdings of the company. Decheng Capital LLC purchased a new position in shares of SCYNEXIS in the fourth quarter worth $1,239,000. Empowered Funds LLC increased its position in shares of SCYNEXIS by 8.1% in the 1st quarter. Empowered Funds LLC now owns 88,414 shares of the company’s stock valued at $130,000 after acquiring an additional 6,650 shares during the period. Acadian Asset Management LLC raised its stake in SCYNEXIS by 5.4% in the 1st quarter. Acadian Asset Management LLC now owns 421,083 shares of the company’s stock worth $618,000 after acquiring an additional 21,700 shares during the last quarter. Vanguard Group Inc. lifted its position in SCYNEXIS by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company’s stock worth $2,481,000 after acquiring an additional 129,153 shares during the period. Finally, Avidity Partners Management LP grew its stake in SCYNEXIS by 9.8% during the 4th quarter. Avidity Partners Management LP now owns 1,448,728 shares of the company’s stock valued at $3,231,000 after purchasing an additional 129,284 shares during the last quarter. 54.37% of the stock is currently owned by institutional investors.

SCYNEXIS Company Profile

SCYNEXIS, Inc, a biotechnology company, develops medicines to overcome and prevent difficult-to-treat and drug-resistant infections in the United States. It offers BREXAFEMME for the treatment of patients with vulvovaginal candidiasis (VVC) and recurrent VVC. The company's lead product candidate is Ibrexafungerp, an intravenous drug for the treatment of invasive candidiasis and/or candidemia, refractory invasive fungal infections, invasive aspergillosis, VVC, and recurrent VVC.