SCYNEXIS (NASDAQ:SCYX) Share Price Passes Below 200-Day Moving Average – Should You Sell?

SCYNEXIS, Inc. (NASDAQ:SCYX) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.49 and traded as low as $1.11. SCYNEXIS shares last traded at $1.12, with a volume of 112,390 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of SCYNEXIS from a “sell” rating to a “hold” rating in a research report on Friday, November 8th.

SCYNEXIS Stock Down 1.8 %

The business’s 50 day moving average is $1.19 and its 200-day moving average is $1.49. The firm has a market cap of $42.50 million, a P/E ratio of -1.51 and a beta of 1.53.

SCYNEXIS (NASDAQ:SCYX) last released its earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.14. SCYNEXIS had a negative net margin of 425.41% and a negative return on equity of 66.21%. The firm had revenue of $0.66 million during the quarter.

Hedge Funds Weigh In On SCYNEXIS

An institutional investor recently raised its position in SCYNEXIS stock. Geode Capital Management LLC increased its stake in SCYNEXIS, Inc. (NASDAQ:SCYX) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 398,856 shares of the company’s stock after purchasing an additional 36,405 shares during the quarter. Geode Capital Management LLC owned about 1.05% of SCYNEXIS worth $594,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 54.37% of the company’s stock.

SCYNEXIS Company Profile

SCYNEXIS, Inc, a biotechnology company, develops medicines to overcome and prevent difficult-to-treat and drug-resistant infections in the United States. It offers BREXAFEMME for the treatment of patients with vulvovaginal candidiasis (VVC) and recurrent VVC. The company's lead product candidate is Ibrexafungerp, an intravenous drug for the treatment of invasive candidiasis and/or candidemia, refractory invasive fungal infections, invasive aspergillosis, VVC, and recurrent VVC.