Federated Hermes Inc. Sells 700,000 Shares of SCYNEXIS, Inc. (NASDAQ:SCYX)

Federated Hermes Inc. decreased its holdings in SCYNEXIS, Inc. (NASDAQ:SCYX) by 19.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,895,000 shares of the company’s stock after selling 700,000 shares during the quarter. Federated Hermes Inc. owned 0.08% of SCYNEXIS worth $3,503,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCYX. JPMorgan Chase & Co. acquired a new position in SCYNEXIS in the fourth quarter worth about $49,000. Geode Capital Management LLC grew its stake in shares of SCYNEXIS by 10.0% in the 3rd quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock valued at $594,000 after purchasing an additional 36,405 shares during the period. AMH Equity Ltd raised its holdings in shares of SCYNEXIS by 4.3% in the 4th quarter. AMH Equity Ltd now owns 626,052 shares of the company’s stock worth $758,000 after buying an additional 26,052 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of SCYNEXIS during the 3rd quarter worth approximately $25,000. 54.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut SCYNEXIS from a “hold” rating to a “sell” rating in a research report on Saturday, March 22nd.

SCYNEXIS Stock Down 1.1 %

Shares of SCYNEXIS stock opened at $0.87 on Friday. SCYNEXIS, Inc. has a 12-month low of $0.73 and a 12-month high of $3.07. The stock has a market capitalization of $33.91 million, a P/E ratio of -1.18 and a beta of 1.71. The company has a 50-day simple moving average of $1.00 and a 200 day simple moving average of $1.17.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings results on Wednesday, March 12th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.13. The firm had revenue of $0.98 million during the quarter. SCYNEXIS had a negative return on equity of 66.21% and a negative net margin of 425.41%.

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.