SCYNEXIS (NASDAQ:SCYX) Now Covered by Analysts at Guggenheim

Guggenheim started coverage on shares of SCYNEXIS (NASDAQ:SCYX – Get Rating) in a research note published on Tuesday, The Fly reports. The firm issued a buy rating on the stock.

SCYNEXIS Trading Up 1.4 %

Shares of NASDAQ SCYX opened at $1.49 on Tuesday. The company has a 50 day simple moving average of $1.63 and a 200 day simple moving average of $2.14. SCYNEXIS has a 1 year low of $1.42 and a 1 year high of $5.15. The company has a current ratio of 7.26, a quick ratio of 7.21 and a debt-to-equity ratio of 2.63.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC bought a new position in SCYNEXIS during the 4th quarter worth approximately $31,000. D.A. Davidson & CO. grew its position in shares of SCYNEXIS by 14.7% during the 4th quarter. D.A. Davidson & CO. now owns 243,627 shares of the company’s stock worth $380,000 after buying an additional 31,181 shares during the period. Vanguard Group Inc. grew its position in shares of SCYNEXIS by 27.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,321,973 shares of the company’s stock worth $3,173,000 after buying an additional 285,834 shares during the period. UBS Oconnor LLC grew its position in shares of SCYNEXIS by 5.8% during the 3rd quarter. UBS Oconnor LLC now owns 535,670 shares of the company’s stock worth $1,286,000 after buying an additional 29,428 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of SCYNEXIS during the 3rd quarter worth approximately $41,000. Institutional investors own 49.92% of the company’s stock.

SCYNEXIS Company Profile

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SCYNEXIS, Inc is a biotechnology company engaged in the development of novel oral and intravenous triterpenoid antifungal for the treatment of several serious fungal infections, including vulvovaginal candidiasis, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections.