H.C. Wainwright lowers SCYNEXIS Inc. [SCYX] rating to buy and sets price target at $20

GMVD Stock
GMVD Stock

H.C. Wainwright took its SCYNEXIS Inc. [SCYX] rating to the equivalent of a Buy, and the price target to ‎‎$20 from $35, in a research note dated Dec 28, 2020. That figure represents around a 64.35% premium ‎from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with ‎Needham’s analysts upgrading the shares from “a Hold” rating to “a Buy” rating in a research note to ‎investors issued in mid July. Meanwhile, Maxim Group had launched its coverage on SCYX with “Buy”, ‎in a research note produced for clients June 27, 2018. In addition, there was a new coverage from ‎Guggenheim on October 24, 2017. The research firm rated SCYX “a Buy”.

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Is SCYNEXIS Inc. [NASDAQ:SCYX] a Good Buy Right Now?

It should be noted that SCYX ‎technical indicators for short, intermediate as well as long term progress have placed an overall ‎average of 48% as Buy. The average signal changed from 16% Sell in the last week and compares with ‎‎24% Sell in the past month. Data from SCYNEXIS Inc.’s Trend Spotter indicated that the signals were ‎Bullish. The stock current average is 0.34 million shares in the past 20 days and the short term average ‎signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.2 million shares while ‎the medium term average advocated for Hold. The average long-term signal stands at 50% Buy and the ‎‎100-day average volume stands at 0.13 million shares.‎‎

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SCYX Price Performance

On Wall Street, SCYNEXIS Inc. [NASDAQ:SCYX] finished Thursday’s ‎session up 1.28% at $7.14. The stock went up to $7.18 at the same session while its lowest single day ‎price was $6.92. In the last five days, it saw a rise of about 20.40%, SCYNEXIS Inc. shares dropped by ‎almost -21.54% since the beginning of the year. However, the share price has dropped to as low as -‎‎40.99% below its one year high. On 01/08/20, the company shares recorded $12.10, the highest single-‎day price it has got to in the last 52-weeks and a 52-week low was seen on 10/01/20, the same year at ‎‎$4.20. The company’s shares have declined by -16.66% in the past year. The 50-day SMA achieved is ‎‎$5.90 while the 200-day SMA is $6.80. Volume dropped to 0.25 million from 0.73 million in the previous ‎session.‎‎

SCYX Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing is ‎perceived around 6.98 level, and in case of violation of this particular level, it will cause more drop to ‎‎6.82 level. On the upper level, 7.34 is still the key resistance. The stock may increase to the subsequent ‎resistance at 7.24. The Relative Strength Index (RSI) pinned on the 14-day chart is 57.04, implying a ‎neutral technical stance while the MACD stands at -0.12, meaning price will decrease in the next ‎trading period. Percent R indicator moved to 42.11%, implying low price movement. Stochastic %K at ‎‎48.68% suggest selling the stock.‎‎

What is the short interest in SCYNEXIS Inc.?

Short interest in the SCYNEXIS Inc. stock has ‎plunged, decreasing by -0.15 million shares to total 0.36 million shares on Dec 14, 2020. The interest ‎had seen shares on Nov 12, 2020 stand at 0.2 million, data from Yahoo Finance shows. The increase of ‎‎43.09% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ‎ratio) moved to while the shorted shares account for just 3.98% of the overall float for the stock.‎‎

SCYNEXIS Inc.’s Biggest Shareholders: Who Owns SCYNEXIS Inc. [SCYX]?

Filings by Federated ‎Global Investment Manag showed that the firm now holds a total of 1,909,930 shares or roughly ‎‎17.46% of the outstanding SCYX shares. This means their shares have reduced by 0 from the 1,909,930 ‎the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Stonepine Capital ‎Management LLC updated stake is worth $10,220,737. During the last quarter, Avidity Partners ‎Management LP 1,086,706 of its shares in SCYNEXIS Inc. while Caxton Corp. bought 39,759 shares. The ‎Puissance Capital Management LP’s holdings currently number 311,143 shares at $2221561.02. ‎According to the firm’s last 13F report, The Vanguard Group, Inc. shares in the company at filing stood ‎at 277,723 shares, roughly $1,846,858.‎‎

SCYX Earnings Forecast For The Current Quarter

SCYNEXIS Inc. [SCYX] is expected to report ‎strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company ‎expected an earnings per share of -$0.96 for Dec 2020. Looking further ahead, the company is ‎expected to report an EPS of -$0.72 for Mar 2021. ‎‎

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SCYX Earnings Estimates For The Current ‎Year

In terms of EPS for the 2020, estimate put it at -2.24, higher than that of FY19 by $7.36. ‎Estimates put this year’s earnings growth at 76.70%, -40.60% for the next. ‎


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