Michael Burry Is Selling These 3 Stocks

1. SCYNEXIS, Inc. (NASDAQ:SCYX)

Number of Hedge Fund Holders: 6 

SCYNEXIS, Inc. (NASDAQ:SCYX) is a biotech firm that focuses on the development of products for the treatment of fungal infections. Scion had bought a new stake in the company during the third quarter of 2021 consisting of more than 174,000 shares purchased at an average price of $6.55 per share. Burry sold this position altogether between October and December 2021. The company had been the sixth-largest holding in the Burry portfolio during the third quarter of 2021. 

On March 31, H.C. Wainwright analyst Oren Livnat maintained a Buy rating on SCYNEXIS, Inc. (NASDAQ:SCYX) stock and lowered the price target to $14 from $20, noting that changing practice after decades of no vulvovaginal candidiasis alternatives “takes time”. 

Among the hedge funds being tracked by Insider Monkey, New York-based firm Kingdon Capital is a leading shareholder in SCYNEXIS, Inc. (NASDAQ:SCYX) with 797,048 shares worth more than $4.8 million. 

At the end of the fourth quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $32 million in SCYNEXIS, Inc. (NASDAQ:SCYX), the same as in the previous quarter worth $7 million.  

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