SCYNEXIS (NASDAQ:SCYX) Downgraded to Sell Rating 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 released on Thursday.

SCYNEXIS Trading Down 5.9 %

Shares of SCYX traded down $0.05 during mid-day trading on Thursday, hitting $0.86. The company’s stock had a trading volume of 312,996 shares, compared to its average volume of 201,533. The firm has a 50-day simple moving average of $1.09 and a 200 day simple moving average of $1.26. The firm has a market capitalization of $32.57 million, a P/E ratio of -1.16 and a beta of 1.67. SCYNEXIS has a 1-year low of $0.82 and a 1-year high of $3.07.

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

Hedge Funds Weigh In On SCYNEXIS

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC acquired a new position in SCYNEXIS during the fourth quarter worth $53,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 purchasing an additional 35,233 shares during the last quarter. Millennium Management LLC acquired a new position in SCYNEXIS during the fourth quarter worth $31,000. Jane Street Group LLC acquired a new position in SCYNEXIS during the fourth quarter worth $32,000. Finally, Northern Trust Corp raised its holdings in SCYNEXIS by 51.9% during the fourth quarter. Northern Trust Corp now owns 153,518 shares of the company’s stock worth $186,000 after purchasing an additional 52,466 shares during the last quarter. 54.37% of the stock is 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.