Price Action To Observe: SCYNEXIS Inc’s Stock Is Buy After Today’s Big Increase

Price Action To Observe: SCYNEXIS Inc's Stock Is Buy After Today's Big Increase

The stock of SCYNEXIS Inc (NASDAQ:SCYX) is a huge mover today! About 395,524 shares traded hands. SCYNEXIS Inc (NASDAQ:SCYX) has declined 19.04% since April 8, 2016 and is downtrending. It has underperformed by 24.69% the S&P500.
The move comes after 7 months positive chart setup for the $89.40 million company. It was reported on Nov, 10 by Barchart.com. We have $4.62 PT which if reached, will make NASDAQ:SCYX worth $26.82 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. The stock of SCYNEXIS Inc (NASDAQ:SCYX) has “Buy” rating given on Thursday, August 20 by Needham. WBB Securities initiated SCYNEXIS Inc (NASDAQ:SCYX) on Tuesday, December 29 with “Strong Buy” rating. On Monday, November 16 the stock rating was maintained by RBC Capital Markets with “Outperform”. The stock has “Strong Buy” rating given by WBB Securities on Friday, October 7. Brean Capital initiated SCYNEXIS Inc (NASDAQ:SCYX) rating on Monday, March 28. Brean Capital has “Buy” rating and $16 price target. The company was initiated on Wednesday, August 17 by Guggenheim. Brean Capital initiated SCYNEXIS Inc (NASDAQ:SCYX) on Monday, October 3 with “Buy” rating. The stock of SCYNEXIS Inc (NASDAQ:SCYX) has “Buy” rating given on Tuesday, August 9 by WBB Securities. H.C. Wainwright initiated it with “Buy” rating and $14 target price in Thursday, October 20 report.

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 2016 Q2. 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.
Sphera Funds Mngmt Limited, a Israel-based fund reported 128,500 shares. Sabby Management Lc reported 572,928 shares or 0.06% of all its holdings. Deutsche Commercial Bank Ag has invested 0% of its portfolio in SCYNEXIS Inc (NASDAQ:SCYX). Baker Bros Advsr Limited Partnership holds 467,600 shares or 0.01% of its portfolio. Moreover, Blackrock Fund has 0% invested in SCYNEXIS Inc (NASDAQ:SCYX) for 30,090 shares. Awm Inv has 125,000 shares for 0.06% of their US portfolio. Dafna Cap Mngmt Limited Liability, a California-based fund reported 266,904 shares. Millennium Mgmt Lc has 36,700 shares for 0% of their US portfolio. Blackrock Institutional Tru Na reported 4,201 shares or 0% of all its holdings. Tower Research Capital Limited Com (Trc) has 0% invested in the company for 796 shares. The Florida-based Ladenburg Thalmann Financial Svcs Inc has invested 0% in SCYNEXIS Inc (NASDAQ:SCYX). Fmr Ltd Liability Corporation last reported 1.73 million shares in the company. Federated Invsts Pa, a Pennsylvania-based fund reported 3.41M shares. Blackrock Management Ltd Limited Liability Company accumulated 2,041 shares or 0% of the stock. California Pub Employees Retirement System has 0% invested in the company for 200,000 shares.

Insider Transactions: Since May 19, 2016, the stock had 7 insider purchases, and 0 selling transactions for $276,683 net activity. 36,950 SCYNEXIS Inc (NASDAQ:SCYX) shares with value of $82,159 were bought by Angulo Gonzalez David. $117,600 worth of shares were bought by Machado Patrick on Thursday, September 15. Taglietti Marco bought $18,420 worth of SCYNEXIS Inc (NASDAQ:SCYX) on Thursday, May 19. Shares for $15,379 were bought by HANHAM ANN.

More news for SCYNEXIS Inc (NASDAQ:SCYX) were recently published by: Globenewswire.com, which released: “SCYNEXIS, Inc. Reports Third Quarter 2016 Financial Results and Provides …” on November 07, 2016. Reuters.com‘s article titled: “BRIEF-SCYNEXIS Inc reports Q3 2016 financial results” and published on November 07, 2016 is yet another important article.

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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