SCYNEXIS (NASDAQ:SCYX) Share Price Passes Below 200 Day Moving Average - Time to Sell?

SCYNEXIS, Inc. (NASDAQ:SCYX - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.82 and traded as low as $1.41. SCYNEXIS shares last traded at $1.41, with a volume of 39,556 shares changing hands.

Wall Street Analyst Weigh In

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

SCYNEXIS Stock Up 1.4 %

The business's 50-day moving average price is $1.63 and its 200 day moving average price is $1.81. The company has a market capitalization of $54.14 million, a P/E ratio of 0.69 and a beta of 1.50.

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

Insider Buying and Selling at SCYNEXIS

In related news, CEO Gonzalez David Angulo purchased 20,000 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of $1.37 per share, with a total value of $27,400.00. Following the acquisition, the chief executive officer now directly owns 507,871 shares of the company's stock, valued at approximately $695,783.27. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SCYNEXIS

Hedge funds and other institutional investors have recently modified their holdings of the company. Kingdon Capital Management L.L.C. lifted its stake in SCYNEXIS by 19.2% in the fourth quarter. Kingdon Capital Management L.L.C. now owns 2,237,048 shares of the company's stock worth $4,989,000 after purchasing an additional 359,900 shares during the last quarter. Avidity Partners Management LP grew its position in SCYNEXIS by 9.8% during the 4th quarter. Avidity Partners Management LP now owns 1,448,728 shares of the company's stock worth $3,231,000 after acquiring an additional 129,284 shares during the last quarter. Vanguard Group Inc. grew its position in SCYNEXIS by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company's stock worth $2,481,000 after acquiring an additional 129,153 shares during the last quarter. Acadian Asset Management LLC increased its stake in SCYNEXIS by 28.4% in the 2nd quarter. Acadian Asset Management LLC now owns 540,683 shares of the company's stock worth $1,080,000 after purchasing an additional 119,600 shares during the period. Finally, AMH Equity Ltd lifted its position in SCYNEXIS by 19.9% in 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. 54.37% of the stock is currently owned by hedge funds and other institutional investors.

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.