SCYNEXIS (NASDAQ:SCYX) Posts Quarterly Earnings Results

SCYNEXIS (NASDAQ:SCYX) posted its earnings results on Monday. The company reported ($0.42) EPS for the quarter, FiscalAI reports. SCYNEXIS had a negative return on equity of 25.52% and a negative net margin of 41.79%.

SCYNEXIS Stock Performance

Shares of SCYX traded down $0.09 during mid-day trading on Monday, hitting $0.82. 437,758 shares of the company traded hands, compared to its average volume of 520,632. The stock has a 50-day moving average price of $0.92 and a two-hundred day moving average price of $0.76. SCYNEXIS has a 1 year low of $0.57 and a 1 year high of $1.31. The stock has a market cap of $36.80 million, a price-to-earnings ratio of -4.85 and a beta of 1.12.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. reaffirmed a “buy” rating on shares of SCYNEXIS in a report on Monday, March 9th. Wall Street Zen upgraded shares of SCYNEXIS from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.00.

Institutional Trading of SCYNEXIS

Several large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in shares of SCYNEXIS in the second quarter worth approximately $27,000. Sequoia Financial Advisors LLC bought a new position in shares of SCYNEXIS in the third quarter worth approximately $41,000. GSA Capital Partners LLP boosted its position in shares of SCYNEXIS by 95.2% in the third quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock worth $80,000 after purchasing an additional 50,916 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of SCYNEXIS by 4.2% in the second quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after purchasing an additional 14,689 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of SCYNEXIS by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after purchasing an additional 29,775 shares during the period. 54.37% of the stock is currently owned by institutional investors.

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.