SCYNEXIS, Inc. (NASDAQ:SCYX) gapped up prior to trading on Wednesday . The stock had previously closed at $7.26, but opened at $8.23. SCYNEXIS shares last traded at $7.59, with a volume of 3,934 shares.
A number of research firms have issued reports on SCYX. HC Wainwright decreased their price target on shares of SCYNEXIS from $35.00 to $20.00 and set a â€œbuyâ€ rating for the company in a report on Monday, December 28th. Maxim Group reaffirmed a â€œbuyâ€ rating and issued a $17.00 price target on shares of SCYNEXIS in a report on Wednesday, December 23rd. Finally, Cantor Fitzgerald started coverage on SCYNEXIS in a research report on Tuesday. They set an â€œoverweightâ€ rating and a $30.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of â€œBuyâ€ and a consensus target price of $27.82.
The company has a quick ratio of 5.54, a current ratio of 5.55 and a debt-to-equity ratio of 2.88. The stock has a market cap of $84.68 million, a PE ratio of -1.56 and a beta of 1.70. The business has a 50 day moving average price of $6.82 and a 200 day moving average price of $6.14.
SCYNEXIS (NASDAQ:SCYX) last issued its earnings results on Friday, November 6th. The company reported ($0.28) EPS for the quarter, topping analystsâ€™ consensus estimates of ($1.00) by $0.72. On average, research analysts predict that SCYNEXIS, Inc. will post -3.88 earnings per share for the current fiscal year.
In other SCYNEXIS news, CEO Marco Taglietti purchased 40,000 shares of the stock in a transaction on Monday, December 21st. The shares were bought at an average price of $6.25 per share, for a total transaction of $250,000.00. Following the completion of the transaction, the chief executive officer now owns 109,668 shares of the companyâ€™s stock, valued at approximately $685,425. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Philippe Tinmouth bought 8,000 shares of SCYNEXIS stock in a transaction on Monday, December 21st. The shares were purchased at an average cost of $6.25 per share, with a total value of $50,000.00. Following the acquisition, the director now directly owns 8,000 shares of the companyâ€™s stock, valued at $50,000. The disclosure for this purchase can be found here. Insiders have acquired 50,200 shares of company stock worth $313,750 in the last quarter. 4.06% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in SCYX. Bridgeway Capital Management Inc. grew its position in SCYNEXIS by 263.3% in the second quarter. Bridgeway Capital Management Inc. now owns 545,000 shares of the companyâ€™s stock worth $409,000 after acquiring an additional 395,000 shares during the period. Charles Schwab Investment Management Inc. purchased a new position in SCYNEXIS in the second quarter worth approximately $83,000. Finally, Advisor Group Holdings Inc. grew its position in SCYNEXIS by 427.7% in the second quarter. Advisor Group Holdings Inc. now owns 34,300 shares of the companyâ€™s stock worth $25,000 after acquiring an additional 27,800 shares during the period.
About SCYNEXIS (NASDAQ:SCYX)
SCYNEXIS, Inc, a biotechnology company, delivers therapies for the treatment fungal infections in the United States. It is developing its lead product candidate, ibrexafungerp, as a novel oral and intravenous drug for the treatment of various fungal infections, including vulvovaginal candidiasis, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections.
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