SCYNEXIS (SCYX) has been under a strong bear grip, hence the stock is down -2.5% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 11.57% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 12.26% in the last 1 week, and is up 4.09% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
SCYNEXIS (NASDAQ:SCYX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.30 and $2.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.35. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.29, notching a gain of 1.78% for the day. The total traded volume was 744,955 . The stock had closed at $2.25 on the previous day.
The stock has recorded a 20-day Moving Average of 7.08% and the 50-Day Moving Average is 18.81%. SCYNEXIS, Inc. has dropped 45.22% during the last 3-month period . Year-to-Date the stock performance stands at -63.12%.
SCYNEXIS, Inc. is a pharmaceutical company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It also provides contract research and development services primarily in the field of animal health. Its lead product candidate, SCY-078, is an oral and intravenous (IV) drug for the treatment of serious and life-threatening invasive fungal infections in humans. SCY-078 has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species, including drug resistant strains. In addition, the Company has additional compounds similar to SCY-078. The Company has developed a platform for cyclophilin inhibitors. Its cyclophilin inhibitor platform has two clinical stage compounds: SCY-635, which is a cyclophilin inhibitor for the treatment of dog dry eye and SCY-641, which is a cyclophilin inhibitor with activity similar to cyclosporine for the treatment of viral diseases in humans.