SCYNEXIS (NASDAQ:SCYX) Share Price Crosses Above Fifty Day Moving Average - What's Next?

SCYNEXIS, Inc. (NASDAQ:SCYX - Get Free Report) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.52 and traded as high as $1.60. SCYNEXIS shares last traded at $1.52, with a volume of 227,189 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of SCYNEXIS from a "hold" rating to a "sell" rating in a research note on Monday, August 12th.

SCYNEXIS Price Performance

The company's 50 day simple moving average is $1.52 and its two-hundred day simple moving average is $1.82. The stock has a market capitalization of $55.65 million, a P/E ratio of -2.04 and a beta of 1.50.

SCYNEXIS (NASDAQ:SCYX - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.11). SCYNEXIS had a negative return on equity of 57.41% and a negative net margin of 366.09%. The company had revenue of $0.74 million for the quarter. On average, research analysts anticipate that SCYNEXIS, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Transactions at SCYNEXIS

In other SCYNEXIS news, CEO Gonzalez David Angulo acquired 20,000 shares of the company's stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $1.37 per share, for a total transaction of $27,400.00. Following the purchase, the chief executive officer now directly owns 507,871 shares of the company's stock, valued at $695,783.27. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SCYNEXIS

A number of institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its holdings in SCYNEXIS by 8.1% during the first quarter. Empowered Funds LLC now owns 88,414 shares of the company's stock worth $130,000 after buying an additional 6,650 shares during the last quarter. Acadian Asset Management LLC grew its position in SCYNEXIS by 5.4% during the first quarter. Acadian Asset Management LLC now owns 421,083 shares of the company's stock valued at $618,000 after buying an additional 21,700 shares during the period. AMH Equity Ltd lifted its holdings in SCYNEXIS by 19.9% during the first quarter. AMH Equity Ltd now owns 660,000 shares of the company's stock valued at $970,000 after purchasing an additional 109,600 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in SCYNEXIS by 8.3% during the first quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company's stock valued at $2,481,000 after purchasing an additional 129,153 shares during the last quarter. 54.37% of the stock is owned by 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.