SCYNEXIS (NASDAQ:SCYX) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of SCYNEXIS (NASDAQ:SCYX) from a hold rating to a sell rating in a report issued on Saturday morning.

SCYNEXIS Price Performance

Shares of SCYX stock opened at $1.04 on Friday. The stock has a market cap of $40.54 million, a P/E ratio of -1.41 and a beta of 1.67. SCYNEXIS has a fifty-two week low of $0.82 and a fifty-two week high of $3.07. The business has a fifty day simple moving average of $1.06 and a 200-day simple moving average of $1.23.

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

Institutional Investors Weigh In On SCYNEXIS

Hedge funds have recently bought and sold shares of the business. XTX Topco Ltd acquired a new position in SCYNEXIS during the 3rd quarter worth $25,000. Two Sigma Securities LLC bought a new position in shares of SCYNEXIS during the fourth quarter worth about $25,000. Millennium Management LLC acquired a new position in SCYNEXIS in the fourth quarter worth about $31,000. Jane Street Group LLC bought a new stake in SCYNEXIS in the fourth quarter valued at about $32,000. Finally, JPMorgan Chase & Co. acquired a new stake in SCYNEXIS during the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds 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.