SCYNEXIS (NASDAQ:SCYX) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

SCYNEXIS, Inc. (NASDAQ:SCYX) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.33 and traded as low as $1.07. SCYNEXIS shares last traded at $1.07, with a volume of 105,478 shares.

Analyst Ratings Changes

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

SCYNEXIS Price Performance

The business has a fifty day moving average of $1.13 and a 200-day moving average of $1.33. The stock has a market capitalization of $40.61 million, a price-to-earnings ratio of -1.45 and a beta of 1.52.

Hedge Funds Weigh In On SCYNEXIS

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in SCYNEXIS by 10.0% during the third quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock worth $594,000 after buying an additional 36,405 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of SCYNEXIS during the 3rd quarter worth $25,000. Millennium Management LLC acquired a new position in shares of SCYNEXIS in the 4th quarter worth $31,000. Squarepoint Ops LLC acquired a new stake in shares of SCYNEXIS during the fourth quarter worth $53,000. Finally, Jane Street Group LLC purchased a new stake in shares of SCYNEXIS during the fourth quarter valued at $32,000. 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.