SCYNEXIS (NASDAQ:SCYX) Downgraded by StockNews.com

StockNews.com cut shares of SCYNEXIS (NASDAQ:SCYXFree Report) from a buy rating to a hold rating in a research note released on Monday morning.

Separately, Cantor Fitzgerald reissued an overweight rating on shares of SCYNEXIS in a research report on Friday, January 12th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $12.25.

Check Out Our Latest Report on SCYX

SCYNEXIS Stock Performance

Shares of SCYX opened at $1.41 on Monday. The company has a current ratio of 7.66, a quick ratio of 6.88 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $52.46 million, a P/E ratio of 0.99 and a beta of 1.59. The firm’s fifty day simple moving average is $1.78 and its two-hundred day simple moving average is $2.00. SCYNEXIS has a 12 month low of $1.22 and a 12 month high of $3.87.

Hedge Funds Weigh In On SCYNEXIS

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its stake in SCYNEXIS by 55.5% in the 1st quarter. Renaissance Technologies LLC now owns 17,100 shares of the company’s stock valued at $51,000 after buying an additional 6,100 shares during the last quarter. Northern Trust Corp increased its stake in SCYNEXIS by 12.7% in the 2nd quarter. Northern Trust Corp now owns 54,421 shares of the company’s stock valued at $161,000 after buying an additional 6,127 shares during the last quarter. Citigroup Inc. purchased a new stake in SCYNEXIS in the 1st quarter valued at about $26,000. State Street Corp increased its stake in shares of SCYNEXIS by 9.3% during the 1st quarter. State Street Corp now owns 78,630 shares of the company’s stock worth $307,000 after purchasing an additional 6,694 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in shares of SCYNEXIS by 20.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 50,192 shares of the company’s stock worth $106,000 after purchasing an additional 8,517 shares during the last quarter. Institutional investors own 49.87% of the company’s stock.

About SCYNEXIS

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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.

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