SCYNEXIS (NASDAQ:SCYX) Stock Crosses Below 200 Day Moving Average – Should You Sell?

SCYNEXIS, Inc. (NASDAQ:SCYX)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.41 and traded as low as $1.09. SCYNEXIS shares last traded at $1.18, with a volume of 288,269 shares trading hands.

Analysts Set New Price Targets

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

SCYNEXIS Trading Up 8.3 %

The business has a 50 day moving average of $1.15 and a 200-day moving average of $1.41. The stock has a market cap of $44.78 million, a PE ratio of -1.59 and a beta of 1.52.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCYX. AMH Equity Ltd grew its holdings in shares of SCYNEXIS by 4.3% during the fourth quarter. AMH Equity Ltd now owns 626,052 shares of the company’s stock worth $758,000 after buying an additional 26,052 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of SCYNEXIS by 10.0% during the third quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock valued at $594,000 after buying an additional 36,405 shares during the period. Finally, XTX Topco Ltd acquired a new stake in SCYNEXIS during the third quarter worth approximately $25,000. 54.37% of the stock is currently owned by hedge funds and other institutional investors.

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.