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”.
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.
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.