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

SCYNEXIS, Inc. (NASDAQ:SCYX) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.19 and traded as low as $0.78. SCYNEXIS shares last traded at $0.80, with a volume of 66,431 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of SCYNEXIS from a “hold” rating to a “sell” rating in a research report on Saturday, March 22nd.

SCYNEXIS Stock Performance

The stock has a market cap of $31.35 million, a PE ratio of -1.09 and a beta of 1.71. The business has a 50 day moving average price of $1.02 and a two-hundred day moving average price of $1.19.

SCYNEXIS (NASDAQ:SCYX) last posted its quarterly earnings data on Wednesday, March 12th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate 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 for the quarter.

Hedge Funds Weigh In On SCYNEXIS

Several institutional investors have recently added to or reduced their stakes in SCYX. Geode Capital Management LLC grew its position in shares of SCYNEXIS by 10.0% during the 3rd quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock valued at $594,000 after acquiring an additional 36,405 shares during the period. AMH Equity Ltd lifted its stake in SCYNEXIS by 4.3% in the fourth quarter. AMH Equity Ltd now owns 626,052 shares of the company’s stock valued at $758,000 after purchasing an additional 26,052 shares during the last quarter. XTX Topco Ltd bought a new position in SCYNEXIS during the third quarter valued at $25,000. Millennium Management LLC purchased a new stake in SCYNEXIS in the fourth quarter worth $31,000. Finally, Squarepoint Ops LLC bought a new stake in shares of SCYNEXIS in the fourth quarter valued at $53,000. Institutional investors own 54.37% of the company’s stock.

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.