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

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

SCYNEXIS Stock Performance

SCYNEXIS stock opened at $1.04 on Friday. SCYNEXIS has a fifty-two week low of $0.82 and a fifty-two week high of $3.07. The stock has a market cap of $40.54 million, a PE ratio of -1.41 and a beta of 1.67. The firm’s 50-day simple moving average is $1.06 and its 200 day simple moving average is $1.24.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings results on Wednesday, March 12th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate 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 for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCYX. Two Sigma Securities LLC purchased a new position in SCYNEXIS in the fourth quarter valued at about $25,000. XTX Topco Ltd purchased a new position in SCYNEXIS in the third quarter valued at about $25,000. Millennium Management LLC purchased a new position in SCYNEXIS in the fourth quarter valued at about $31,000. Jane Street Group LLC purchased a new position in SCYNEXIS in the fourth quarter valued at about $32,000. Finally, JPMorgan Chase & Co. purchased a new position in SCYNEXIS in the fourth quarter valued at about $49,000. 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.