SCYNEXIS (NASDAQ:SCYX) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Shares of SCYNEXIS, Inc. (NASDAQ:SCYX) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.49 and traded as low as $1.11. SCYNEXIS shares last traded at $1.12, with a volume of 112,390 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of SCYNEXIS from a “sell” rating to a “hold” rating in a report on Friday, November 8th.

SCYNEXIS Stock Down 0.9 %

The firm has a market capitalization of $40.23 million, a price-to-earnings ratio of -1.43 and a beta of 1.53. The stock has a 50 day moving average of $1.19 and a 200 day moving average of $1.49.

SCYNEXIS (NASDAQ:SCYX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.14. SCYNEXIS had a negative net margin of 425.41% and a negative return on equity of 66.21%. The business had revenue of $0.66 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in SCYNEXIS stock. XTX Topco Ltd bought a new stake in SCYNEXIS, Inc. (NASDAQ:SCYX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,111 shares of the company’s stock, valued at approximately $25,000. 54.37% of the stock is owned by institutional investors.

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.