SCYNEXIS, Inc. (NASDAQ:SCYX) Short Interest Up 79.6% in April

SCYNEXIS, Inc. (NASDAQ:SCYX) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totaling 2,100,787 shares, a growth of 79.6% from the April 15th total of 1,169,538 shares. Approximately 4.9% of the company’s stock are sold short. Based on an average daily volume of 380,859 shares, the days-to-cover ratio is presently 5.5 days.

Institutional Investors Weigh In On SCYNEXIS

Several hedge funds have recently modified their holdings of SCYX. Jane Street Group LLC acquired a new stake in shares of SCYNEXIS during the second quarter worth $27,000. Sequoia Financial Advisors LLC purchased a new position in SCYNEXIS in the third quarter worth $41,000. GSA Capital Partners LLP raised its position in SCYNEXIS by 95.2% in the third quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock worth $80,000 after acquiring an additional 50,916 shares in the last quarter. Renaissance Technologies LLC raised its position in SCYNEXIS by 27.6% in the first quarter. Renaissance Technologies LLC now owns 224,640 shares of the company’s stock worth $206,000 after acquiring an additional 48,640 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in SCYNEXIS by 4.2% in the second quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after acquiring an additional 14,689 shares in the last quarter. 54.37% of the stock is owned by institutional investors and hedge funds.

SCYNEXIS Price Performance

Shares of NASDAQ SCYX opened at $0.66 on Wednesday. The stock has a fifty day moving average price of $0.92 and a 200 day moving average price of $0.76. SCYNEXIS has a 1-year low of $0.57 and a 1-year high of $1.31. The company has a market cap of $29.33 million, a PE ratio of -1.37 and a beta of 1.12.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.32). SCYNEXIS had a negative return on equity of 57.16% and a negative net margin of 41.79%. Analysts anticipate that SCYNEXIS will post -0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SCYX has been the subject of several research analyst reports. reissued a “buy” rating on shares of SCYNEXIS in a report on Monday, March 9th. Wall Street Zen downgraded SCYNEXIS from a “buy” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.00.

SCYNEXIS Company Profile

SCYNEXIS, Inc is a late?stage biopharmaceutical company focused on developing and commercializing novel anti?infective therapies. Headquartered in Jersey City, New Jersey, the company’s primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS’s scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company’s lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.