AIGH Capital Management LLC Reduces Stock Position in SCYNEXIS, Inc. (NASDAQ:SCYX)

AIGH Capital Management LLC lessened its stake in shares of SCYNEXIS, Inc. (NASDAQ:SCYX) by 40.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,159,346 shares of the company’s stock after selling 772,700 shares during the quarter. SCYNEXIS comprises about 1.3% of AIGH Capital Management LLC’s investment portfolio, making the stock its 24th biggest holding. AIGH Capital Management LLC owned 3.17% of SCYNEXIS worth $3,478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Stonepine Capital Management LLC bought a new position in shares of SCYNEXIS in the 1st quarter worth approximately $1,350,000. Renaissance Technologies LLC lifted its stake in shares of SCYNEXIS by 55.5% in the 1st quarter. Renaissance Technologies LLC now owns 17,100 shares of the company’s stock worth $51,000 after purchasing an additional 6,100 shares during the period. Spire Wealth Management bought a new position in shares of SCYNEXIS in the 1st quarter worth approximately $26,000. Tower Research Capital LLC TRC lifted its stake in shares of SCYNEXIS by 212.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 12,779 shares of the company’s stock worth $38,000 after purchasing an additional 8,684 shares during the period. Finally, AMH Equity Ltd bought a new position in shares of SCYNEXIS in the 1st quarter worth approximately $750,000. Institutional investors own 49.87% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SCYX. StockNews.com upgraded shares of SCYNEXIS from a “sell” rating to a “buy” rating in a research note on Wednesday, August 16th. TheStreet upgraded shares of SCYNEXIS from a “d-” rating to a “c+” rating in a research note on Wednesday, August 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $15.00 target price on shares of SCYNEXIS in a research note on Tuesday, August 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $11.40.

SCYNEXIS Price Performance

Shares of SCYNEXIS stock traded up $0.16 on Friday, hitting $3.32. 252,525 shares of the company traded hands, compared to its average volume of 553,106. The stock has a market capitalization of $123.44 million, a P/E ratio of 3.95 and a beta of 2.14. The company has a debt-to-equity ratio of 0.12, a quick ratio of 8.37 and a current ratio of 9.01. SCYNEXIS, Inc. has a 52 week low of $1.15 and a 52 week high of $3.87. The business has a 50-day simple moving average of $3.00 and a 200 day simple moving average of $2.70.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings data on Monday, August 14th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $1.43. The firm had revenue of $131.45 million for the quarter, compared to analysts’ expectations of $91.50 million. SCYNEXIS had a net margin of 32.71% and a return on equity of 317.92%. Research analysts expect that SCYNEXIS, Inc. will post 2.22 earnings per share for the current fiscal year.

SCYNEXIS Company Profile

SCYNEXIS, Inc, a biotechnology company, develops products for the treatment of fungal infections in the United States. It offers BREXAFEMME for the treatment of vulvovaginal candidiasis (VVC) and recurrent VVC. The company's lead product candidate is Ibrexafungerp, an intravenous drug for the treatment of various fungal infections, including invasive candidiasis, refractory invasive fungal infections, invasive aspergillosis, VVC, and recurrent VVC.