Shares of SCYNEXIS Inc (NASDAQ:SCYX) have been assigned an average recommendation of “Buy” from the eight brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $10.00.
Several equities analysts recently commented on the company. ValuEngine raised SCYNEXIS from a “strong sell” rating to a “sell” rating in a report on Saturday, December 9th. Zacks Investment Research lowered SCYNEXIS from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Finally, Guggenheim assumed coverage on SCYNEXIS in a report on Tuesday, October 24th. They issued a “buy” rating and a $6.00 target price on the stock.
A number of large investors have recently bought and sold shares of SCYX. National Asset Management Inc. purchased a new position in SCYNEXIS in the second quarter valued at $551,000. DAFNA Capital Management LLC boosted its stake in SCYNEXIS by 32.7% in the second quarter. DAFNA Capital Management LLC now owns 506,900 shares of the company’s stock valued at $907,000 after acquiring an additional 125,000 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in SCYNEXIS in the third quarter valued at $264,000. Vanguard Group Inc. boosted its stake in SCYNEXIS by 6.0% in the second quarter. Vanguard Group Inc. now owns 868,394 shares of the company’s stock valued at $1,554,000 after acquiring an additional 48,978 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in SCYNEXIS by 33.7% in the second quarter. GSA Capital Partners LLP now owns 176,700 shares of the company’s stock valued at $316,000 after acquiring an additional 44,500 shares in the last quarter. 30.90% of the stock is currently owned by hedge funds and other institutional investors.
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SCYNEXIS, Inc is engaged in the discovery, development and commercialization of anti-infectives. The Company 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.
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