Shares of SCYNEXIS, Inc. (NASDAQ:SCYX) have been assigned a consensus recommendation of "Buy" from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $26.00.
SCYX has been the subject of several recent research reports. HC Wainwright decreased their price objective on SCYNEXIS from $35.00 to $20.00 and set a "buy" rating for the company in a report on Monday, December 28th. Cantor Fitzgerald initiated coverage on SCYNEXIS in a report on Tuesday, January 5th. They set an "overweight" rating and a $30.00 price objective for the company. Guggenheim began coverage on SCYNEXIS in a report on Friday, January 22nd. They set a "buy" rating and a $25.00 price objective for the company. Zacks Investment Research upgraded SCYNEXIS from a "hold" rating to a "buy" rating and set a $10.00 price objective for the company in a research note on Tuesday, February 9th. Finally, Aegis restated a "buy" rating on shares of SCYNEXIS in a research note on Monday, February 15th.
Shares of SCYX opened at $8.27 on Tuesday. SCYNEXIS has a 52-week low of $4.20 and a 52-week high of $11.20. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.89 and a current ratio of 3.89. The business's 50 day moving average price is $8.18 and its two-hundred day moving average price is $6.40. The firm has a market cap of $90.47 million, a PE ratio of -2.22 and a beta of 2.16.
In other SCYNEXIS news, Director Brian Philippe Tinmouth acquired 8,000 shares of the business's stock in a transaction dated Monday, December 21st. The stock was bought at an average price of $6.25 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director now owns 8,000 shares of the company's stock, valued at $50,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Perceptive Advisors Llc sold 319,000 shares of the business's stock in a transaction dated Friday, January 22nd. The stock was sold at an average price of $8.24, for a total value of $2,628,560.00. The disclosure for this sale can be found here. Insiders have purchased a total of 50,200 shares of company stock worth $313,750 in the last three months. 4.06% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in shares of SCYNEXIS by 10,517.9% during the fourth quarter. Wells Fargo & Company MN now owns 5,946 shares of the company's stock worth $46,000 after purchasing an additional 5,890 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of SCYNEXIS during the fourth quarter worth about $77,000. Diametric Capital LP purchased a new position in shares of SCYNEXIS during the fourth quarter worth about $82,000. Northern Trust Corp grew its holdings in shares of SCYNEXIS by 12.0% during the fourth quarter. Northern Trust Corp now owns 19,636 shares of the company's stock worth $150,000 after purchasing an additional 2,108 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of SCYNEXIS by 19.3% during the fourth quarter. Creative Planning now owns 24,700 shares of the company's stock worth $189,000 after purchasing an additional 4,000 shares in the last quarter. 36.92% of the stock is owned by institutional investors.
SCYNEXIS, Inc, a biotechnology company, delivers therapies for the treatment fungal infections in the United States. It is developing its lead product candidate, ibrexafungerp, as a novel oral and intravenous drug for the treatment of various fungal infections, including vulvovaginal candidiasis, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections.
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