Empery Asset Management LP Makes New $514.66 Million Investment in SCYNEXIS, Inc. $SCYX

Empery Asset Management LP acquired a new position in SCYNEXIS, Inc. (NASDAQ:SCYX) in the second quarter, according to 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 $514,656,000. SCYNEXIS makes up 0.6% of Empery Asset Management LP’s investment portfolio, making the stock its 18th biggest holding. Empery Asset Management LP owned 1.27% of SCYNEXIS at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SCYX. Wealth Effects LLC bought a new stake in SCYNEXIS in the 2nd quarter worth approximately $56,000. Renaissance Technologies LLC boosted its stake in SCYNEXIS by 27.6% in the first quarter. Renaissance Technologies LLC now owns 224,640 shares of the company’s stock worth $206,000 after buying an additional 48,640 shares in the last quarter. BlackRock Inc. bought a new position in SCYNEXIS during the second quarter valued at approximately $169,000. Vanguard Group Inc. grew its position in SCYNEXIS by 6.4% during the third quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock valued at $1,357,000 after acquiring an additional 105,600 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of SCYNEXIS during the fourth quarter worth approximately $1,255,000. 54.37% of the stock is currently owned by institutional investors.

SCYNEXIS Stock Down 2.3%

NASDAQ:SCYX opened at $5.10 on Friday. The company has a fifty day moving average of $4.44 and a 200 day moving average of $5.83. SCYNEXIS, Inc. has a 52 week low of $3.53 and a 52 week high of $10.48. The firm has a market capitalization of $50.74 million, a P/E ratio of -2.44 and a beta of 1.09.

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

Analyst Ratings Changes

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

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.