SCYNEXIS (NASDAQ:SCYX) Shares Pass Below 200 Day Moving Average - Should You Sell?

Key Points

• SCYNEXIS shares fell below their 200-day moving average, trading as low as $5.22 versus the $5.81 average, and last changing hands at $5.23.
• Analyst sentiment is mixed: two analysts rate the stock Buy and one rates it Sell, resulting in an overall Hold rating and an average price target of $33.00.
• The company exceeded quarterly EPS and revenue estimates, but remains unprofitable, with negative margins and analysts forecasting a full-year loss; institutional investors own 54.37% of outstanding shares.

SCYNEXIS, Inc. (NASDAQ:SCYX - Get Free Report)'s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.81 and traded as low as $5.22. SCYNEXIS shares last traded at $5.23, with a volume of 40,891 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SCYX shares. Guggenheim reaffirmed a "buy" rating and set a $33.00 price objective (up from $24.00) on shares of SCYNEXIS in a report on Thursday, August 13th. Brookline Capital Markets reissued a "buy" rating on shares of SCYNEXIS in a research note on Friday, July 31st. Weiss Ratings raised shares of SCYNEXIS from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, July 24th. Finally, Wall Street Zen raised shares of SCYNEXIS from a "strong sell" rating to a "hold" rating in a research report on Sunday, August 16th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $33.00.

SCYNEXIS Stock Down 3.0%

The business has a 50-day simple moving average of $4.61 and a two-hundred day simple moving average of $5.81. The stock has a market capitalization of $52.04 million, a P/E ratio of -2.50 and a beta of 1.09.

SCYNEXIS (NASDAQ:SCYX - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $1.14. SCYNEXIS had a negative return on equity of 44.15% and a negative net margin of 41.79%.The firm had revenue of $0.23 million during the quarter, compared to analyst estimates of $0.08 million. On average, sell-side analysts forecast that SCYNEXIS, Inc. will post -1.6 earnings per share for the current year.

Institutional Investors Weigh In On SCYNEXIS

A number of hedge funds have recently made changes to their positions in SCYX. Goldman Sachs Group Inc. bought a new position in SCYNEXIS during the 4th quarter valued at about $1,255,000. Vanguard Group Inc. increased its holdings in shares of SCYNEXIS by 6.4% during the third quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company's stock worth $1,357,000 after buying an additional 105,600 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of SCYNEXIS by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 449,223 shares of the company's stock worth $284,000 after buying an additional 29,775 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of SCYNEXIS by 4.2% during the second quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company's stock worth $248,000 after buying an additional 14,689 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of SCYNEXIS by 27.6% in the first quarter. Renaissance Technologies LLC now owns 224,640 shares of the company's stock valued at $206,000 after acquiring an additional 48,640 shares during the last quarter. Institutional investors and hedge funds own 54.37% of the company's stock.

About SCYNEXIS

SCYNEXIS, Inc is a late‐stage biopharmaceutical company focused on developing and commercializing novel anti‐infective therapies. Headquartered in Jersey City, New Jersey, the company's primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS's scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company's lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.

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