SCYNEXIS (NASDAQ:SCYX) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

SCYNEXIS, Inc. (NASDAQ:SCYX)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.33 and traded as low as $1.07. SCYNEXIS shares last traded at $1.07, with a volume of 105,478 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of SCYNEXIS from a “sell” rating to a “hold” rating in a research report on Friday, November 8th.

SCYNEXIS Price Performance

The firm has a market capitalization of $40.61 million, a price-to-earnings ratio of -1.45 and a beta of 1.52. The firm’s fifty day moving average is $1.13 and its 200 day moving average is $1.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp grew its stake in shares of SCYNEXIS by 51.9% in the 4th quarter. Northern Trust Corp now owns 153,518 shares of the company’s stock valued at $186,000 after buying an additional 52,466 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of SCYNEXIS during the 4th quarter worth $53,000. JPMorgan Chase & Co. bought a new position in shares of SCYNEXIS during the 4th quarter valued at $49,000. Geode Capital Management LLC lifted its stake in shares of SCYNEXIS by 10.0% in the 3rd quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock valued at $594,000 after purchasing an additional 36,405 shares during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in SCYNEXIS by 22.0% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 195,393 shares of the company’s stock worth $236,000 after buying an additional 35,233 shares during the last quarter. Hedge funds and other institutional investors own 54.37% of the company’s stock.

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.