SCYNEXIS (SCYX) Sees Large Volume Increase

Shares of SCYNEXIS Inc (NASDAQ:SCYX) saw unusually-strong trading volume on Monday . Approximately 3,154,954 shares traded hands during trading, an increase of 61% from the previous session’s volume of 1,961,073 shares.The stock last traded at $1.34 and had previously closed at $1.16.

Several equities research analysts have recently weighed in on the stock. Brookline Capital Management reissued a “buy” rating on shares of SCYNEXIS in a research note on Friday, January 4th. Maxim Group set a $4.00 target price on shares of SCYNEXIS and gave the company a “buy” rating in a research note on Tuesday, November 13th. HC Wainwright set a $5.00 target price on shares of SCYNEXIS and gave the company a “buy” rating in a research note on Tuesday, October 23rd. ValuEngine raised shares of SCYNEXIS from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research raised shares of SCYNEXIS from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a research note on Wednesday, January 30th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. SCYNEXIS presently has an average rating of “Buy” and a consensus target price of $4.78.

The company has a market capitalization of $57.28 million, a P/E ratio of -1.33 and a beta of 2.28. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.53 and a current ratio of 4.53.

SCYNEXIS (NASDAQ:SCYX) last posted its quarterly earnings results on Tuesday, November 13th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.18. The company had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.06 million. SCYNEXIS had a negative net margin of 8,592.97% and a negative return on equity of 102.52%. On average, analysts predict that SCYNEXIS Inc will post -0.51 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stonepine Capital Management LLC bought a new stake in shares of SCYNEXIS in the 3rd quarter valued at about $539,000. Private Advisor Group LLC bought a new stake in shares of SCYNEXIS in the 3rd quarter valued at about $240,000. Northern Trust Corp boosted its holdings in shares of SCYNEXIS by 132.7% in the 2nd quarter. Northern Trust Corp now owns 116,079 shares of the company’s stock valued at $190,000 after buying an additional 66,193 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of SCYNEXIS in the 2nd quarter valued at about $190,000. Finally, BlackRock Inc. boosted its holdings in shares of SCYNEXIS by 61.5% in the 2nd quarter. BlackRock Inc. now owns 180,751 shares of the company’s stock valued at $296,000 after buying an additional 68,830 shares in the last quarter. 41.53% of the stock is currently owned by institutional investors and hedge funds.

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About SCYNEXIS (NASDAQ:SCYX)

SCYNEXIS, Inc, a drug development company, develops and commercializes anti-infectives to address unmet therapeutic needs. It is developing its lead product candidate, SCY-078, as a novel oral and intravenous drug for the treatment of various fungal infections, including serious and life-threatening invasive fungal infections.

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