SCYNEXIS (NASDAQ:SCYX) Shares Pass Below 200-Day Moving Average – What’s Next?

SCYNEXIS, Inc. (NASDAQ:SCYX)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.29 and traded as low as $0.95. SCYNEXIS shares last traded at $0.96, with a volume of 78,332 shares trading hands.

Analyst Ratings Changes

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

SCYNEXIS Stock Up 0.8 %

The company has a 50-day moving average price of $1.12 and a 200-day moving average price of $1.28. The firm has a market capitalization of $36.72 million, a price-to-earnings ratio of -1.31 and a beta of 1.67.

Hedge Funds Weigh In On SCYNEXIS

Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new stake in SCYNEXIS in the third quarter worth approximately $25,000. Two Sigma Securities LLC acquired a new stake in SCYNEXIS in the fourth quarter worth approximately $25,000. Millennium Management LLC acquired a new stake in SCYNEXIS in the fourth quarter worth approximately $31,000. Jane Street Group LLC acquired a new stake in SCYNEXIS in the fourth quarter worth approximately $32,000. Finally, JPMorgan Chase & Co. acquired a new stake in SCYNEXIS in the fourth quarter worth approximately $49,000. 54.37% of the stock is currently owned by institutional investors and hedge funds.

About SCYNEXIS

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.