SCYNEXIS (NASDAQ:SCYX) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

SCYNEXIS, Inc. (NASDAQ:SCYX) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.19 and traded as low as $0.78. SCYNEXIS shares last traded at $0.80, with a volume of 66,431 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered SCYNEXIS from a “hold” rating to a “sell” rating in a research note on Saturday, March 22nd.

SCYNEXIS Price Performance

The business’s fifty day moving average price is $1.02 and its 200-day moving average price is $1.19. The stock has a market capitalization of $31.35 million, a PE ratio of -1.09 and a beta of 1.71.

SCYNEXIS (NASDAQ:SCYX) last posted its earnings results on Wednesday, March 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping 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 business had revenue of $0.98 million for the quarter.

Institutional Investors Weigh In On SCYNEXIS

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in SCYNEXIS in the 3rd quarter worth about $25,000. Two Sigma Securities LLC bought a new position in shares of SCYNEXIS in the fourth quarter worth approximately $25,000. Millennium Management LLC purchased a new stake in SCYNEXIS in the fourth quarter valued at approximately $31,000. Jane Street Group LLC bought a new stake in SCYNEXIS during the fourth quarter valued at approximately $32,000. Finally, JPMorgan Chase & Co. purchased a new position in SCYNEXIS in the 4th quarter worth approximately $49,000. Institutional investors own 54.37% of the company’s stock.

SCYNEXIS Company Profile

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.