SCYNEXIS (NASDAQ:SCYX) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

SCYNEXIS, Inc. (NASDAQ:SCYX)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.81 and traded as low as $1.32. SCYNEXIS shares last traded at $1.32, with a volume of 90,434 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of SCYNEXIS from a “hold” rating to a “sell” rating in a research report on Monday, August 12th.

SCYNEXIS Trading Down 0.8 %

The stock’s 50-day moving average price is $1.46 and its two-hundred day moving average price is $1.81. The stock has a market capitalization of $49.98 million, a P/E ratio of -1.83 and a beta of 1.50.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The business had revenue of $0.74 million during the quarter. SCYNEXIS had a negative return on equity of 57.41% and a negative net margin of 366.09%. On average, equities research analysts predict that SCYNEXIS, Inc. will post -0.68 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Gonzalez David Angulo bought 20,000 shares of the stock in a transaction on Thursday, September 12th. The shares were acquired at an average cost of $1.37 per share, for a total transaction of $27,400.00. Following the purchase, the chief executive officer now directly owns 507,871 shares of the company’s stock, valued at $695,783.27. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.85% of the stock is owned by insiders.

Institutional Trading of SCYNEXIS

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC raised its position in shares of SCYNEXIS by 8.1% during the 1st quarter. Empowered Funds LLC now owns 88,414 shares of the company’s stock valued at $130,000 after buying an additional 6,650 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of SCYNEXIS by 5.4% during the 1st quarter. Acadian Asset Management LLC now owns 421,083 shares of the company’s stock valued at $618,000 after buying an additional 21,700 shares in the last quarter. AMH Equity Ltd raised its position in SCYNEXIS by 19.9% in the 1st quarter. AMH Equity Ltd now owns 660,000 shares of the company’s stock worth $970,000 after purchasing an additional 109,600 shares during the period. Finally, Vanguard Group Inc. raised its position in SCYNEXIS by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company’s stock worth $2,481,000 after purchasing an additional 129,153 shares during the period. Hedge funds and other institutional investors own 54.37% of the company’s stock.

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.