Gaming Stocks Dominated Insider Trading Activity Last Friday; SCYNEXIS Inc. (SCYX), Rayonier Inc. (RYN) Register Insider Buying

Board Member at Low-Priced Pharmaceutical Company Purchases Shares

The insider buying activity appears to have been very intense at SCYNEXIS Inc. (NASDAQ:SCYX) in the past several months, a trend that does not seem to be halting just yet. C. Patrick Machado, who joined the company’s Board of Directors in September of last year, snatched up 40,000 shares on Thursday at prices that fell in the range of $2.83 to $2.96 per share, a purchase that lifted his overall holding to 60,000 shares.

Although the pharmaceutical company developing novel anti-infectives has lost 46% of its market value since the beginning of the year, SCYNEXIS Inc. (NASDAQ:SCYX)’s stock has gained 31% in the past three months. The company’s lead product candidate, called SCY-078, is a novel oral and intravenous drug developed for the treatment of several fungal infections, including life-threatening invasive fungal infections in humans. In late August, the FDA granted orphan drug designation to the company’s SCY-078 for the treatment of invasive Aspergillus infections, which provides seven years of market exclusivity in the U.S. following FDA approval. James E. Flynn’s Deerfiled Management was the owner of 1.77 million shares of SCYNEXIS Inc. (NASDAQ:SCYX) at the end of June.

Director of Timberland REIT Buys Shares Amid Stock Price Weakness

A member of Rayonier Inc. (NYSE:RYN)’s boardroom also purchased a relatively sizeable block of shares this past week. Board member Andrew G. Wiltshire snapped up 4,000 shares on Wednesday at a price tag of $25.77 each, boosting his ownership to 11,356 shares.

The timberland real estate investment trust that has assets in some of the most productive softwood timber growing regions in the United States and New Zealand has seen the value of its stock gain 16% since the start of the year. A fresh plunge in the value of Rayonier’s shares earlier this September appears to have created attractive entry points for corporate insiders. Rayonier Inc. (NYSE:RYN) owns and leases under long-term agreements roughly 2.3 million acres of timberlands in the U.S. South and U.S. Pacific as of the end of June. The company also has a 77%-ownership interest in a joint venture that owns and leases around 436,000 acres of timberlands in New Zealand. Mason Hawkins’ Southeastern Asset Management had 8.06 million shares of Rayonier Inc. (NYSE:RYN) in its portfolio at the end of the second quarter.

The final page of this article discusses fresh insider selling observed at two other companies.