SCYNEXIS (NASDAQ:SCYX) Releases Quarterly Earnings Results

by · The Markets Daily

SCYNEXIS (NASDAQ:SCYX – Get Free Report) announced its earnings results on Wednesday. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04), FiscalAI reports. The business had revenue of $17.20 million for the quarter, compared to the consensus estimate of $8.10 million. SCYNEXIS had a negative return on equity of 26.33% and a negative net margin of 41.79%.

SCYNEXIS Stock Performance

SCYX stock traded up $0.01 during mid-day trading on Friday, hitting $0.80. The company had a trading volume of 934,000 shares, compared to its average volume of 426,439. SCYNEXIS has a 12 month low of $0.57 and a 12 month high of $1.31. The stock’s fifty day moving average price is $0.72 and its two-hundred day moving average price is $0.75. The firm has a market cap of $33.58 million, a PE ratio of -4.71 and a beta of 1.33.

Hedge Funds Weigh In On SCYNEXIS

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new stake in shares of SCYNEXIS during the 2nd quarter valued at $27,000. Bridgeway Capital Management LLC increased its stake in SCYNEXIS by 4.2% in the second quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock valued at $248,000 after acquiring an additional 14,689 shares during the last quarter. Geode Capital Management LLC raised its position in SCYNEXIS by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock valued at $284,000 after purchasing an additional 29,775 shares in the last quarter. Vanguard Group Inc. lifted its stake in SCYNEXIS by 6.4% during the third quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock worth $1,357,000 after purchasing an additional 105,600 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of SCYNEXIS in the 4th quarter worth about $1,255,000. 54.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of SCYNEXIS in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, SCYNEXIS currently has a consensus rating of “Hold” and a consensus target price of $3.00.

Get Our Latest Stock Analysis on SCYX

About SCYNEXIS

(Get Free Report)

SCYNEXIS, Inc is a late‐stage biopharmaceutical company focused on developing and commercializing novel anti‐infective therapies. Headquartered in Jersey City, New Jersey, the company’s primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS’s scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company’s lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.

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