Should You Buy SCYNEXIS Inc (SCYX) Stock on Friday?

Overall market sentiment has been down on SCYNEXIS Inc (SCYX) stock lately. SCYX receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

SCYNEXIS Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on SCYX!

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What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Sentiment is how investors, or the market, feels about a stock. There are lots of ways to measure sentiment. At the core, sentiment is pretty easy to understand. If a stock is going up, investors must be bullish, while if it is going down, sentiment is bearish. InvestorsObserver’s Sentiment Indicator looks at price trends over the past week and also considers changes in volume. Increasing volume can mean a trend is getting stronger, while decreasing volume can mean a trend is nearing a conclusion. For stocks that have options, our system also considers the balance between calls, which are often bets that the price will go up, and puts, which are frequently bets that the price will fall.

What's Happening With SCYX Stock Today?

SCYNEXIS Inc (SCYX) stock is trading at $1.81 as of 1:54 PM on Friday, Oct 20, a decline of -$0.20, or -9.75% from the previous closing price of $2.00. The stock has traded between $1.61 and $1.96 so far today. Volume today is elevated. So far 948,851 shares have traded compared to average volume of 434,830 shares. To see InvestorsObserver's Sentiment Score for SCYNEXIS Inc click here.

More About SCYNEXIS Inc

SCYNEXIS Inc is a drug development company that focuses on the development and commercialization of novel anti-infectives to address significant unmet therapeutic needs. It is engaged in developing a lead product candidate, ibrexafungerp which is a novel oral and intravenous (IV) drug for the treatment of several fungal infections, including serious and life-threatening invasive fungal infections. The ibrexafungerp is a novel and structurally distinct triterpenoid glucan synthase inhibitor that is effective in vitro and in vivo against a broad range of Candida and Aspergillus species, including drug-resistant strains. Click Here to get the full Stock Report for SCYNEXIS Inc stock.