Stock On Watch: Is Buying SCYNEXIS Inc Here a Winning Strategy?

Stock On Watch: Is Buying SCYNEXIS Inc Here a Winning Strategy?

The stock of SCYNEXIS Inc (NASDAQ:SCYX) is a huge mover today! About 202,313 shares traded hands. SCYNEXIS Inc (NASDAQ:SCYX) has declined 30.84% since April 4, 2016 and is downtrending. It has underperformed by 31.93% the S&P500.
The move comes after 6 months positive chart setup for the $73.32M company. It was reported on Nov, 4 by Barchart.com. We have $5.65 PT which if reached, will make NASDAQ:SCYX worth $59.39 million more.

Analysts await SCYNEXIS Inc (NASDAQ:SCYX) to report earnings on November, 11.

SCYNEXIS Inc (NASDAQ:SCYX) Ratings Coverage

Out of 6 analysts covering Scynexis Inc (NASDAQ:SCYX), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Scynexis Inc has been the topic of 9 analyst reports since August 20, 2015 according to StockzIntelligence Inc. WBB Securities upgraded the stock to “Buy” rating in Tuesday, August 9 report. Needham maintained SCYNEXIS Inc (NASDAQ:SCYX) on Thursday, August 20 with “Buy” rating. Brean Capital initiated the shares of SCYX in a report on Monday, October 3 with “Buy” rating. The firm has “Buy” rating given on Wednesday, August 17 by Guggenheim. The rating was upgraded by WBB Securities on Friday, October 7 to “Strong Buy”. Brean Capital initiated SCYNEXIS Inc (NASDAQ:SCYX) rating on Monday, March 28. Brean Capital has “Buy” rating and $16 price target. The rating was initiated by WBB Securities with “Strong Buy” on Tuesday, December 29. RBC Capital Markets maintained SCYNEXIS Inc (NASDAQ:SCYX) rating on Monday, November 16. RBC Capital Markets has “Outperform” rating and $17 price target. The stock of SCYNEXIS Inc (NASDAQ:SCYX) has “Buy” rating given on Thursday, October 20 by H.C. Wainwright.

According to Zacks Investment Research, “SCYNEXIS, Inc. is a pharmaceutical company. It is engaged in the discovery, development, and commercialization of anti-infectives to address unmet therapeutic needs. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of serious and life-threatening invasive fungal infections in humans. It also provides contract research and development services. SCYNEXIS, Inc. is headquartered in Durham, North Carolina.”

Insitutional Activity: The institutional sentiment increased to 1.82 in Q2 2016. Its up 0.02, from 1.8 in 2016Q1. The ratio increased, as 4 funds sold all SCYNEXIS Inc shares owned while 7 reduced positions. 10 funds bought stakes while 10 increased positions. They now own 13.69 million shares or 61.88% more from 8.46 million shares in 2016Q1.
The New York-based Awm Invest has invested 0.06% in SCYNEXIS Inc (NASDAQ:SCYX). Blackrock Fund holds 0% or 30,090 shares in its portfolio. Moreover, Natl Bank Of America Corporation De has 0% invested in SCYNEXIS Inc (NASDAQ:SCYX) for 5,267 shares. Blackrock Institutional Na reported 4,201 shares or 0% of all its holdings. Royal Fincl Bank Of Canada holds 0% or 4,300 shares in its portfolio. Deerfield last reported 0.15% of its portfolio in the stock. Rock Springs Capital Lp has 635,000 shares for 0.1% of their US portfolio. Private Advisor Gp last reported 200,000 shares in the company. Armistice Limited Liability Corp, a New York-based fund reported 698,000 shares. Kcg accumulated 11,319 shares or 0% of the stock. Federated Investors Incorporated Pa reported 3.41M shares or 0.02% of all its holdings. Geode Limited Company has 0% invested in the company for 55,168 shares. Perceptive Advisors Limited Liability Company has invested 0.03% of its portfolio in SCYNEXIS Inc (NASDAQ:SCYX). Dafna Capital Mgmt Ltd Liability Com, a California-based fund reported 266,904 shares. Vanguard Incorporated last reported 0% of its portfolio in the stock.

Insider Transactions: Since May 19, 2016, the stock had 7 insider buys, and 0 selling transactions for $276,683 net activity. The insider Taglietti Marco bought $787. $117,600 worth of shares were bought by Machado Patrick on Thursday, September 15. HANHAM ANN had bought 4,225 shares worth $15,379 on Wednesday, May 25. 36,950 shares were bought by Angulo Gonzalez David, worth $82,159.

Another recent and important SCYNEXIS Inc (NASDAQ:SCYX) news was published by Globenewswire.com which published an article titled: “SCYNEXIS, Inc. Receives Orphan Drug Designation for SCY-078 for the Treatment …” on August 24, 2016.

SCYX Company Profile

SCYNEXIS, Inc., incorporated on November 4, 1999, is a pharmaceutical company, which is engaged in the discovery, development and commercialization of anti-infectives to address unmet therapeutic needs. The Firm is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of several fungal infections, including serious invasive fungal infections. SCY-078 is a structurally distinct glucan synthase inhibitor that has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species, including drug-resistant strains. It also conducts additional in vitro and in vivo studies to further characterize the spectrum of activity of SCY-078. Candida and Aspergillus species are the fungi responsible for all invasive fungal infections in the United States and Europe. The Firm has completed multiple Phase I studies with the oral formulation of SCY-078 and is conducting its first Phase I study with the IV formulation of SCY-078.

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