On April 10, 2023 at 10:52:25 ET an unusually large $37.65K block of Call contracts in SCYNEXIS (SCYX) was sold, with a strike price of $2.50 / share, expiring in 11 days (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.34 sigmas above the mean, placing it in the 99.31 percentile of all recent large trades made in SCYX options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 298.93% Upside
As of April 6, 2023, the average one-year price target for SCYNEXIS is $13.84. The forecasts range from a low of $8.08 to a high of $31.50. The average price target represents an increase of 298.93% from its latest reported closing price of $3.47.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SCYNEXIS is $5MM, a decrease of 9.68%. The projected annual non-GAAP EPS is -$1.16.
What is the Fund Sentiment?
There are 71 funds or institutions reporting positions in SCYNEXIS. This is a decrease of 5 owner(s) or 6.58% in the last quarter. Average portfolio weight of all funds dedicated to SCYX is 0.13%, a decrease of 10.22%. Total shares owned by institutions decreased in the last three months by 2.43% to 16,291K shares. The put/call ratio of SCYX is 0.25, indicating a bullish outlook.
What are Large Shareholders Doing?
Federated Hermes holds 5,174K shares representing 15.53% ownership of the company. No change in the last quarter.
FKASX – Federated Kaufmann Small Cap Fund Shares holds 3,593K shares representing 10.78% ownership of the company. No change in the last quarter.
AIGH Capital Management holds 1,932K shares representing 5.80% ownership of the company. In it’s prior filing, the firm reported owning 1,957K shares, representing a decrease of 1.29%. The firm decreased its portfolio allocation in SCYX by 31.97% over the last quarter.
Caxton holds 1,724K shares representing 5.17% ownership of the company. No change in the last quarter.
KAUAX – Federated Kaufmann Fund Shares holds 1,540K shares representing 4.62% ownership of the company. No change in the last quarter.
Scynexis Background Information
(This description is provided by the company.)
SCYNEXIS, Inc. is a biotechnology company pioneering innovative medicines to help millions of patients worldwide overcome and prevent difficult-to-treat infections that are becoming increasingly drug-resistant. Its lead candidate, ibrexafungerp (formerly known as SCY-078), is a broad-spectrum, IV/oral antifungal agent representing a novel therapeutic class. It is currently under review by the FDA as a treatment for vaginal yeast infections and in late-stage development for multiple life-threatening fungal infections in hospitalized patients.
This article originally appeared on Fintel
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