SCYNEXIS Inc (NASDAQ:SCYX)’s stock price traded down 6.8% during mid-day trading on Wednesday . The stock traded as low as $0.94 and last traded at $0.96, 864,600 shares were traded during mid-day trading. An increase of 37% from the average session volume of 628,998 shares. The stock had previously closed at $1.03.
A number of analysts recently commented on SCYX shares. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $6.00 price objective on shares of SCYNEXIS in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of SCYNEXIS in a research note on Thursday, November 7th. ValuEngine upgraded shares of SCYNEXIS from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Brookline Capital Management restated a “buy” rating on shares of SCYNEXIS in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. SCYNEXIS presently has a consensus rating of “Buy” and a consensus target price of $4.13.
The stock has a market cap of $57.50 million, a price-to-earnings ratio of -1.96 and a beta of 2.23. The company has a debt-to-equity ratio of 2.60, a current ratio of 3.58 and a quick ratio of 3.58. The stock’s 50-day moving average is $1.13 and its 200-day moving average is $1.15.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC purchased a new position in shares of SCYNEXIS during the 3rd quarter worth $76,000. Virtu Financial LLC acquired a new stake in shares of SCYNEXIS during the third quarter worth $97,000. Creative Planning boosted its holdings in shares of SCYNEXIS by 9.3% during the second quarter. Creative Planning now owns 139,000 shares of the company’s stock worth $182,000 after purchasing an additional 11,824 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of SCYNEXIS by 86.1% in the second quarter. Renaissance Technologies LLC now owns 475,315 shares of the company’s stock valued at $623,000 after purchasing an additional 219,900 shares during the period. Finally, BlackRock Inc. grew its position in shares of SCYNEXIS by 152.0% in the second quarter. BlackRock Inc. now owns 854,880 shares of the company’s stock valued at $1,121,000 after purchasing an additional 515,707 shares during the period. Institutional investors own 31.84% of the company’s stock.
About SCYNEXIS (NASDAQ:SCYX)
SCYNEXIS, Inc is a biotechnology company, which engages in the development of novel oral and intravenous triterpenoid antifungal for the treatment of several serious fungal infections, including vulvovaginal candidiasis, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections.
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