SCYNEXIS, Inc. (NASDAQ:SCYX) Short Interest Update

SCYNEXIS, Inc. (NASDAQ:SCYX) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 320,181 shares, a decrease of 87.6% from the May 31st total of 2,578,236 shares. Approximately 3.4% of the shares of the stock are sold short. Based on an average trading volume of 64,478 shares, the short-interest ratio is currently 5.0 days.

Institutional Trading of SCYNEXIS

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in shares of SCYNEXIS in the 2nd quarter worth $27,000. GSA Capital Partners LLP increased its stake in SCYNEXIS by 95.2% during the third quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock worth $80,000 after acquiring an additional 50,916 shares during the last quarter. Renaissance Technologies LLC increased its stake in SCYNEXIS by 27.6% during the first quarter. Renaissance Technologies LLC now owns 224,640 shares of the company’s stock worth $206,000 after acquiring an additional 48,640 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of SCYNEXIS by 4.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after purchasing an additional 14,689 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of SCYNEXIS by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after purchasing an additional 29,775 shares during the period. 54.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of SCYNEXIS from a “buy” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded shares of SCYNEXIS from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 12th. Finally, reissued a “buy” rating on shares of SCYNEXIS in a research note on Monday, March 9th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.00.

SCYNEXIS Trading Up 1.0%

SCYX traded up $0.04 during midday trading on Friday, hitting $3.85. The company’s stock had a trading volume of 49,093 shares, compared to its average volume of 74,358. The firm has a market cap of $38.23 million, a P/E ratio of -1.00 and a beta of 1.05. The firm has a 50-day moving average price of $5.85 and a two-hundred day moving average price of $6.02. SCYNEXIS has a 52-week low of $3.68 and a 52-week high of $10.48.

SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.32). SCYNEXIS had a negative return on equity of 57.16% and a negative net margin of 41.79%. On average, equities analysts expect that SCYNEXIS will post -1.6 EPS for the current year.

About SCYNEXIS

SCYNEXIS, Inc is a late?stage biopharmaceutical company focused on developing and commercializing novel anti?infective therapies. Headquartered in Jersey City, New Jersey, the company’s primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS’s scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company’s lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.