SCYNEXIS (NASDAQ:SCYX) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of SCYNEXIS (NASDAQ:SCYX) from a hold rating to a sell rating in a research report released on Thursday.

SCYNEXIS Trading Up 8.6 %

SCYNEXIS stock opened at $0.93 on Thursday. SCYNEXIS has a 12-month low of $0.82 and a 12-month high of $3.07. The stock has a market cap of $35.37 million, a P/E ratio of -1.26 and a beta of 1.67. The company has a 50-day moving average price of $1.08 and a 200 day moving average price of $1.25.

SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings results on Wednesday, March 12th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.13. SCYNEXIS had a negative net margin of 425.41% and a negative return on equity of 66.21%. The business had revenue of $0.98 million during the quarter.

Institutional Investors Weigh In On SCYNEXIS

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of SCYNEXIS during the third quarter valued at about $25,000. Two Sigma Securities LLC acquired a new stake in shares of SCYNEXIS during the fourth quarter valued at about $25,000. Millennium Management LLC acquired a new stake in shares of SCYNEXIS during the fourth quarter valued at about $31,000. Jane Street Group LLC acquired a new position in shares of SCYNEXIS in the fourth quarter valued at approximately $32,000. Finally, JPMorgan Chase & Co. purchased a new stake in SCYNEXIS during the 4th quarter worth approximately $49,000. 54.37% of the stock is currently owned by institutional investors and hedge funds.

SCYNEXIS Company Profile

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.