Empery Asset Management LP Invests $514,656 in SCYNEXIS, Inc. $SCYX

Empery Asset Management LP acquired a new stake in SCYNEXIS, Inc. (NASDAQ:SCYX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 126,451 shares of the company’s stock, valued at approximately $514,656. SCYNEXIS comprises 0.0% of Empery Asset Management LP’s portfolio, making the stock its 18th biggest position. Empery Asset Management LP owned about 1.27% of SCYNEXIS at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Jane Street Group LLC bought a new position in SCYNEXIS during the 2nd quarter worth approximately $27,000. Wealth Effects LLC acquired a new position in shares of SCYNEXIS during the second quarter valued at $56,000. BlackRock Inc. acquired a new stake in SCYNEXIS during the 2nd quarter worth approximately $169,000. Renaissance Technologies LLC lifted its position in shares of SCYNEXIS by 27.6% in the first 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 last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of SCYNEXIS by 4.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after acquiring an additional 14,689 shares during the period. 54.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SCYX. Weiss Ratings upgraded shares of SCYNEXIS from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 24th. Brookline Capital Markets reiterated a “buy” rating on shares of SCYNEXIS in a research note on Friday, July 31st. Wall Street Zen upgraded SCYNEXIS from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Guggenheim reaffirmed a “buy” rating and set a $33.00 price target (up from $24.00) on shares of SCYNEXIS in a research report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.00.

SCYNEXIS Price Performance

Shares of NASDAQ SCYX traded down $0.12 during midday trading on Friday, reaching $5.40. 32,990 shares of the stock were exchanged, compared to its average volume of 93,219. The company has a market capitalization of $53.73 million, a price-to-earnings ratio of -2.58 and a beta of 1.09. SCYNEXIS, Inc. has a 12 month low of $3.53 and a 12 month high of $10.48. The business has a 50-day simple moving average of $4.56 and a two-hundred day simple moving average of $5.81.

SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $1.14. The firm had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.08 million. SCYNEXIS had a negative return on equity of 44.15% and a negative net margin of 41.79%. Equities research analysts expect that SCYNEXIS, Inc. will post -1.6 earnings per share for the current fiscal year.

SCYNEXIS Company Profile

SCYNEXIS, Inc is a late‐stage biopharmaceutical company focused on developing and commercializing novel anti‐infective therapies. Headquartered in Jersey City, New Jersey, the company’s primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS’s scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company’s lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.