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

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

SCYNEXIS Stock Up 8.6 %

NASDAQ SCYX opened at $0.93 on Thursday. SCYNEXIS has a 52 week low of $0.82 and a 52 week high of $3.07. The stock has a market capitalization of $35.37 million, a PE ratio of -1.26 and a beta of 1.67. The firm has a 50 day moving average of $1.08 and a two-hundred day moving average of $1.25.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new position in shares of SCYNEXIS in the 4th quarter valued at $53,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of SCYNEXIS by 22.0% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 195,393 shares of the company’s stock valued at $236,000 after buying an additional 35,233 shares in the last quarter. Millennium Management LLC acquired a new position in shares of SCYNEXIS in the 4th quarter valued at $31,000. Jane Street Group LLC acquired a new position in shares of SCYNEXIS in the 4th quarter valued at $32,000. Finally, Northern Trust Corp boosted its holdings in shares of SCYNEXIS by 51.9% in the 4th quarter. Northern Trust Corp now owns 153,518 shares of the company’s stock valued at $186,000 after buying an additional 52,466 shares in the last quarter. Institutional investors and hedge funds own 54.37% of the company’s stock.

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.