SCYNEXIS, Inc. (NASDAQ:SCYX) to Post FY2024 Earnings of ($0.46) Per Share, Cantor Fitzgerald Forecasts

SCYNEXIS, Inc. (NASDAQ:SCYX - Free Report) - Equities researchers at Cantor Fitzgerald reduced their FY2024 EPS estimates for shares of SCYNEXIS in a research note issued on Monday, April 1st. Cantor Fitzgerald analyst L. Chen now forecasts that the company will post earnings of ($0.46) per share for the year, down from their previous forecast of $1.00. Cantor Fitzgerald has a "Overweight" rating on the stock. The consensus estimate for SCYNEXIS's current full-year earnings is $0.42 per share.

Separately, StockNews.com downgraded shares of SCYNEXIS from a "buy" rating to a "hold" rating in a research report on Monday, March 18th.

SCYNEXIS Stock Down 6.7 %

Shares of NASDAQ:SCYX traded down $0.12 during trading on Thursday, hitting $1.68. 318,497 shares of the company were exchanged, compared to its average volume of 209,051. The firm's 50 day moving average price is $1.69 and its 200-day moving average price is $1.86. SCYNEXIS has a 12-month low of $1.35 and a 12-month high of $3.87. The stock has a market capitalization of $63.42 million, a P/E ratio of 1.27 and a beta of 1.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 7.66 and a quick ratio of 6.88.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SCYX. Acadian Asset Management LLC purchased a new position in SCYNEXIS during the third quarter worth about $673,000. O Shaughnessy Asset Management LLC purchased a new position in SCYNEXIS during the third quarter worth about $94,000. Park Avenue Securities LLC purchased a new position in SCYNEXIS during the third quarter worth about $32,000. TFB Advisors LLC purchased a new position in SCYNEXIS during the fourth quarter worth about $27,000. Finally, D.A. Davidson & CO. raised its holdings in SCYNEXIS by 34.0% during the third quarter. D.A. Davidson & CO. now owns 486,326 shares of the company's stock worth $1,109,000 after purchasing an additional 123,325 shares in the last quarter. 54.37% of the stock is owned by hedge funds and other institutional investors.

SCYNEXIS Company Profile

SCYNEXIS, Inc, a biotechnology company, develops products for the treatment of fungal infections in the United States. It offers BREXAFEMME for the treatment of vulvovaginal candidiasis (VVC) and recurrent VVC. The company's lead product candidate is Ibrexafungerp, an intravenous drug for the treatment of various fungal infections, including invasive candidiasis, refractory invasive fungal infections, invasive aspergillosis, VVC, and recurrent VVC.