Federated Hermes Inc. Sells 700,000 Shares of SCYNEXIS, Inc. (NASDAQ:SCYX)

Federated Hermes Inc. lowered its position in SCYNEXIS, Inc. (NASDAQ:SCYX) by 19.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,895,000 shares of the company’s stock after selling 700,000 shares during the period. Federated Hermes Inc. owned 7.63% of SCYNEXIS worth $3,503,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new stake in shares of SCYNEXIS in the fourth quarter worth about $49,000. AMH Equity Ltd lifted its holdings in SCYNEXIS by 4.3% in the 4th quarter. AMH Equity Ltd now owns 626,052 shares of the company’s stock worth $758,000 after purchasing an additional 26,052 shares during the last quarter. Geode Capital Management LLC boosted its position in SCYNEXIS by 10.0% during the third quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock worth $594,000 after purchasing an additional 36,405 shares during the period. Finally, XTX Topco Ltd acquired a new position in SCYNEXIS during the third quarter valued at approximately $25,000. 54.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of SCYNEXIS from a “hold” rating to a “sell” rating in a research note on Saturday, March 22nd.

SCYNEXIS Price Performance

SCYX stock opened at $0.87 on Friday. The stock has a market capitalization of $33.91 million, a price-to-earnings ratio of -1.18 and a beta of 1.71. The company has a 50-day moving average of $1.00 and a two-hundred day moving average of $1.17. SCYNEXIS, Inc. has a 52-week low of $0.73 and a 52-week high of $3.07.

SCYNEXIS (NASDAQ:SCYX) last released its earnings results on Wednesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.13. SCYNEXIS had a negative return on equity of 66.21% and a negative net margin of 425.41%. The firm had revenue of $0.98 million for the quarter.

About SCYNEXIS

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.