SCYNEXIS (NASDAQ:SCYX) Stock Price Passes Below Two Hundred Day Moving Average - Here's Why

SCYNEXIS, Inc. (NASDAQ:SCYX - Get Free Report) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.82 and traded as low as $1.49. SCYNEXIS shares last traded at $1.53, with a volume of 117,932 shares.

Wall Street Analyst Weigh In

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

SCYNEXIS Stock Performance

The firm has a market capitalization of $57.80 million, a P/E ratio of 0.75 and a beta of 1.50. The stock has a 50 day moving average of $1.56 and a 200-day moving average of $1.82.

SCYNEXIS (NASDAQ:SCYX - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.11). The business had revenue of $0.74 million during the quarter. SCYNEXIS had a negative net margin of 366.09% and a negative return on equity of 57.41%. As a group, sell-side analysts expect that SCYNEXIS, Inc. will post -0.68 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On SCYNEXIS

Several institutional investors and hedge funds have recently made changes to their positions in SCYX. Acadian Asset Management LLC raised its position in SCYNEXIS by 28.4% during the 2nd quarter. Acadian Asset Management LLC now owns 540,683 shares of the company's stock valued at $1,080,000 after purchasing an additional 119,600 shares during the last quarter. Vanguard Group Inc. raised its holdings in SCYNEXIS by 8.3% in the first quarter. Vanguard Group Inc. now owns 1,687,670 shares of the company's stock worth $2,481,000 after buying an additional 129,153 shares during the last quarter. AMH Equity Ltd boosted its stake in SCYNEXIS by 19.9% during the 1st 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. Empowered Funds LLC raised its position in SCYNEXIS by 8.1% in the 1st 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. Finally, Kingdon Capital Management L.L.C. lifted its stake in SCYNEXIS by 19.2% during the 4th quarter. Kingdon Capital Management L.L.C. now owns 2,237,048 shares of the company's stock valued at $4,989,000 after acquiring an additional 359,900 shares during the period. Institutional investors 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.