SCYNEXIS (NASDAQ:SCYX) Stock Price Crosses Above 50-Day Moving Average of $2.53

SCYNEXIS, Inc. (NASDAQ:SCYXGet Rating)’s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.53 and traded as high as $2.70. SCYNEXIS shares last traded at $2.59, with a volume of 67,850 shares changing hands.

SCYNEXIS Stock Down 4.4 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 7.85 and a quick ratio of 7.81. The firm’s 50 day moving average is $2.53 and its two-hundred day moving average is $2.70. The firm has a market capitalization of $84.57 million, a P/E ratio of -1.62 and a beta of 2.00.

SCYNEXIS (NASDAQ:SCYXGet Rating) last released its quarterly earnings data on Monday, August 15th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.04. SCYNEXIS had a negative net margin of 1,557.60% and a negative return on equity of 169.86%. The firm had revenue of $1.32 million during the quarter, compared to analysts’ expectations of $1.18 million. During the same period in the previous year, the business posted ($0.22) earnings per share. Research analysts predict that SCYNEXIS, Inc. will post -1.97 EPS for the current year.

Hedge Funds Weigh In On SCYNEXIS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. bought a new position in SCYNEXIS during the first quarter worth $26,000. Jane Street Group LLC bought a new position in SCYNEXIS during the second quarter worth $48,000. Chicago Partners Investment Group LLC lifted its holdings in shares of SCYNEXIS by 20.4% during the first quarter. Chicago Partners Investment Group LLC now owns 50,192 shares of the company’s stock worth $106,000 after buying an additional 8,517 shares in the last quarter. State Street Corp lifted its holdings in shares of SCYNEXIS by 9.3% during the first quarter. State Street Corp now owns 78,630 shares of the company’s stock worth $307,000 after buying an additional 6,694 shares in the last quarter. Finally, DAFNA Capital Management LLC acquired a new stake in shares of SCYNEXIS during the fourth quarter worth $740,000. 50.03% of the stock is owned by institutional investors.

About SCYNEXIS

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SCYNEXIS, Inc, a biotechnology company, develops products for the treatment fungal infections in the United States. It offers BREXAFEMME (ibrexafungerp tablets) for the treatment of vulvovaginal candidiasis (VVC). The company is developing its lead product candidate, Ibrexafungerp, as a novel oral and intravenous drug for the treatment of various fungal infections, including recurrent VVC, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections; and ibrexafungerp that has completed Phase 3 CANDLE study for the prevention of recurrent (VVC).

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