SCYNEXIS (NASDAQ:SCYX) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

SCYNEXIS, Inc. (NASDAQ:SCYX)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.33 and traded as low as $1.07. SCYNEXIS shares last traded at $1.07, with a volume of 105,478 shares.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of SCYNEXIS from a “sell” rating to a “hold” rating in a report on Friday, November 8th.

SCYNEXIS Stock Performance

The stock’s fifty day moving average is $1.13 and its 200 day moving average is $1.33. The stock has a market cap of $40.61 million, a P/E ratio of -1.45 and a beta of 1.52.

Institutional Trading of SCYNEXIS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AMH Equity Ltd raised its position in SCYNEXIS by 4.3% in the 4th quarter. AMH Equity Ltd now owns 626,052 shares of the company’s stock worth $758,000 after purchasing an additional 26,052 shares during the period. Geode Capital Management LLC increased its position in shares of SCYNEXIS by 10.0% during the third quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock worth $594,000 after acquiring an additional 36,405 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 acquiring an additional 35,233 shares during the period. Northern Trust Corp increased its position in shares of 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 acquiring an additional 52,466 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in SCYNEXIS during the fourth quarter valued at approximately $53,000. 54.37% of the stock is owned by hedge funds and other institutional investors.

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.