SCYNEXIS (NASDAQ:SCYX) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

SCYNEXIS, Inc. (NASDAQ:SCYX)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.82 and traded as low as $1.49. SCYNEXIS shares last traded at $1.53, with a volume of 117,932 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded SCYNEXIS from a “hold” rating to a “sell” rating in a report on Monday, August 12th.

SCYNEXIS Stock Up 0.7 %

The company’s fifty day moving average price is $1.56 and its two-hundred day moving average price is $1.82. The company has a market cap of $57.80 million, a price-to-earnings ratio of 0.75 and a beta of 1.50.

SCYNEXIS (NASDAQ:SCYX) last announced its earnings results on Thursday, August 8th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). SCYNEXIS had a negative return on equity of 57.41% and a negative net margin of 366.09%. The company had revenue of $0.74 million during the quarter. On average, equities research analysts predict that SCYNEXIS, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gonzalez David Angulo bought 20,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average price of $1.37 per share, for a total transaction of $27,400.00. Following the purchase, the chief executive officer now owns 507,871 shares of the company’s stock, valued at approximately $695,783.27. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SCYNEXIS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kingdon Capital Management L.L.C. grew its holdings in shares of SCYNEXIS by 19.2% in the 4th quarter. Kingdon Capital Management L.L.C. now owns 2,237,048 shares of the company’s stock valued at $4,989,000 after acquiring an additional 359,900 shares in the last quarter. Empowered Funds LLC boosted its position in SCYNEXIS by 8.1% during the first quarter. Empowered Funds LLC now owns 88,414 shares of the company’s stock valued at $130,000 after purchasing an additional 6,650 shares during the last quarter. AMH Equity Ltd grew its stake in SCYNEXIS by 19.9% in the first quarter. AMH Equity Ltd now owns 660,000 shares of the company’s stock valued at $970,000 after purchasing an additional 109,600 shares in the last quarter. Vanguard Group Inc. increased its position in shares of SCYNEXIS by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company’s stock worth $2,481,000 after purchasing an additional 129,153 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of SCYNEXIS by 5.4% during the 1st quarter. Acadian Asset Management LLC now owns 421,083 shares of the company’s stock worth $618,000 after purchasing an additional 21,700 shares in the last quarter. 54.37% of the stock is currently owned by institutional investors and hedge funds.

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.