SCYNEXIS (NASDAQ:SCYX) Stock Rating Lowered by StockNews.com

SCYNEXIS (NASDAQ:SCYX) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Saturday.

SCYNEXIS Stock Performance

Shares of SCYX stock opened at $1.04 on Friday. SCYNEXIS has a twelve month low of $0.82 and a twelve month high of $3.07. The stock has a 50 day moving average of $1.06 and a 200 day moving average of $1.24. The stock has a market cap of $40.54 million, a P/E ratio of -1.41 and a beta of 1.67.

SCYNEXIS (NASDAQ:SCYX) last posted its earnings results on Wednesday, March 12th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.13. SCYNEXIS had a negative net margin of 425.41% and a negative return on equity of 66.21%. The firm had revenue of $0.98 million during the quarter.

Institutional Investors Weigh In On SCYNEXIS

Hedge funds have recently modified their holdings of the company. XTX Topco Ltd purchased a new position in shares of SCYNEXIS in the 3rd quarter valued at about $25,000. Two Sigma Securities LLC acquired a new stake in SCYNEXIS in the fourth quarter valued at approximately $25,000. Millennium Management LLC purchased a new stake in shares of SCYNEXIS in the fourth quarter valued at approximately $31,000. Jane Street Group LLC acquired a new position in shares of SCYNEXIS during the 4th quarter worth approximately $32,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of SCYNEXIS during the 4th quarter valued at approximately $49,000. 54.37% of the stock is owned by hedge funds and other institutional investors.

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.