SCYNEXIS (NASDAQ:SCYX) Trading 5.6% Higher

SCYNEXIS Inc (NASDAQ:SCYX)’s stock price traded up 5.6% during trading on Thursday . The stock traded as high as $1.16 and last traded at $1.14, 342,870 shares traded hands during trading. A decline of 49% from the average session volume of 677,772 shares. The stock had previously closed at $1.08.

A number of equities research analysts recently issued reports on the company. Maxim Group set a $4.00 target price on SCYNEXIS and gave the company a “buy” rating in a research note on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of SCYNEXIS in a research note on Monday, August 12th. Aegis assumed coverage on SCYNEXIS in a research note on Wednesday, July 31st. They issued a “buy” rating on the stock. Finally, Brookline Capital Management reaffirmed a “buy” rating on shares of SCYNEXIS in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $4.30.

The company has a current ratio of 4.99, a quick ratio of 4.99 and a debt-to-equity ratio of 1.73. The business has a 50 day moving average of $1.09 and a 200-day moving average of $1.27. The stock has a market cap of $61.84 million, a PE ratio of -2.27 and a beta of 2.36.

SCYNEXIS (NASDAQ:SCYX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. SCYNEXIS had a negative return on equity of 141.28% and a negative net margin of 11,653.81%. The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.06 million. On average, equities research analysts anticipate that SCYNEXIS Inc will post -0.85 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Creative Planning lifted its stake in shares of SCYNEXIS by 9.3% during the 2nd 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 period. Renaissance Technologies LLC lifted its stake in shares of SCYNEXIS by 86.1% during the 2nd quarter. Renaissance Technologies LLC now owns 475,315 shares of the company’s stock worth $623,000 after purchasing an additional 219,900 shares during the period. BlackRock Inc. lifted its stake in shares of SCYNEXIS by 152.0% during the 2nd quarter. BlackRock Inc. now owns 854,880 shares of the company’s stock worth $1,121,000 after purchasing an additional 515,707 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of SCYNEXIS by 47.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,373,737 shares of the company’s stock worth $3,110,000 after purchasing an additional 766,865 shares during the period. 32.86% of the stock is currently owned by institutional investors.

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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