SCYNEXIS (NASDAQ:SCYX) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of SCYNEXIS (NASDAQ:SCYX) from a hold rating to a sell rating in a report released on Thursday morning.

SCYNEXIS Trading Down 5.9 %

Shares of NASDAQ SCYX opened at $0.86 on Thursday. SCYNEXIS has a twelve month low of $0.82 and a twelve month high of $3.07. The stock has a fifty day simple moving average of $1.09 and a 200-day simple moving average of $1.26. The stock has a market capitalization of $32.57 million, a PE ratio of -1.16 and a beta of 1.67.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in SCYNEXIS during the 3rd quarter worth $25,000. Two Sigma Securities LLC acquired a new position in SCYNEXIS during the 4th quarter worth $25,000. Millennium Management LLC acquired a new position in SCYNEXIS during the 4th quarter worth $31,000. Jane Street Group LLC acquired a new position in SCYNEXIS during the 4th quarter worth $32,000. Finally, JPMorgan Chase & Co. acquired a new position in SCYNEXIS during the 4th quarter worth $49,000. 54.37% of the stock is owned by institutional investors and hedge funds.

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.