The Vanguard Group, Inc. recently announced the acquisition of new stake in SCYNEXIS Inc. (NASDAQ:SCYX). The institutional investor has increased its shareholding in the Healthcare company by 27.79% to 1.31 million shares with purchase of 0.29 million shares. This fresh investment now brings its stake to 4.03% valued currently at $2.05 million. In addition, Avidity Partners Management LP raised its holdings by 0.18 million to 1.14 million shares. And UBS O’Connor LLC has lifted its position by 5.81% or 29428.0 shares – to 0.54 million shares.
With over 0.15 million SCYNEXIS Inc. (SCYX) shares trading Friday and a closing price of $1.88 on the day, the dollar volume was approximately $0.28 million. The shares have shown a negative half year performance of -8.74% and its price on 01/13/23 gained nearly 2.73%. Currently, there are 47.50M common shares owned by the public and among those 32.14M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for SCYX have a consensus price objective of $11.25. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $7.00. The average price target is 88.12% above its recent price level and an upside to the estimated low will see the stock gain 73.14% over that period. But an upside of 87.47% will see the stock hit the forecast high price target while median target price for the stock is $11.50.
Insiders at the company have transacted a total of 13 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 375,700 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in SCYNEXIS Inc. are Federated Hermes Kaufmann Small C, Federated Hermes Kaufmann Fund, and Vanguard Total Stock Market Index. Federated Hermes Kaufmann Small C owns 3.59 million shares of the company’s stock, all valued at over $5.61 million. Vanguard Total Stock Market Index now owns shares totaling to 3.02% of the shares outstanding.
Shares of SCYNEXIS Inc. (NASDAQ: SCYX) opened at $1.82, down -$0.01 from a prior closing price of $1.83. However, the script later moved the day high at 2.0000, up 2.73%. The company’s stock has a 5-day price change of 13.94% and -32.86% over the past three months. SCYX shares are trading 20.51% year to date (YTD), with the 12-month market performance down to -66.84% lower. It has a 12-month low price of $1.42 and touched a high of $6.10 over the same period. SCYX has an average intraday trading volume of 144.09K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.69%, -4.63%, and -20.03% respectively.
Institutional ownership of SCYNEXIS Inc. (NASDAQ: SCYX) shares accounts for 51.40% of the company’s 47.50M shares outstanding. Mutual fund holders own 26.21%, while other institutional holders and individual stakeholders account for 7.60% and 22.19% respectively.
It has a market capitalization of $59.80M and a beta (3y monthly) value of 1.98. The earnings-per-share (ttm) stands at -$2.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.10% over the week and 8.53% over the month.
Analysts forecast that SCYNEXIS Inc. (SCYX) will achieve an EPS of -$0.5 for the current quarter, -$0.42 for the next quarter and -$1.18 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.53 while analysts give the company a high EPS estimate of -$0.43. Comparatively, EPS for the current quarter was -$0.02 a year ago. Earnings per share for the fiscal year are expected to increase by 75.80%, and 24.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate SCYNEXIS Inc. (SCYX) as a “Strong Buy” at a consensus score of 1.80. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SCYX, a number of firms have released research notes about the stock. Guggenheim stated their Buy rating for the stock in a research note on January 22, 2021, with the firm’s price target at $25. Cantor Fitzgerald coverage for the SCYNEXIS Inc. (SCYX) stock in a research note released on January 06, 2021 offered a Overweight rating with a price target of $30. Needham was of a view on July 11, 2018 that the stock is Buy, while Maxim Group gave the stock Buy rating on June 27, 2018, issuing a price target of $6. Guggenheim on their part issued Buy rating on October 24, 2017.
