scPharmaceuticals (NASDAQ:SCPH) Shares Down 5.4%

scPharmaceuticals Inc. (NASDAQ:SCPH)’s stock price was down 5.4% on Wednesday . The stock traded as low as $4.41 and last traded at $4.42. Approximately 249,571 shares traded hands during trading, an increase of 9% from the average daily volume of 229,421 shares. The stock had previously closed at $4.67.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of scPharmaceuticals in a research note on Thursday, March 14th.

scPharmaceuticals Stock Performance

The stock’s 50 day moving average is $5.37 and its 200 day moving average is $5.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 6.40 and a current ratio of 7.08.

scPharmaceuticals (NASDAQ:SCPH) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.07. The company had revenue of $6.10 million for the quarter, compared to analyst estimates of $6.10 million. scPharmaceuticals had a negative return on equity of 97.18% and a negative net margin of 403.22%. As a group, research analysts forecast that scPharmaceuticals Inc. will post -1.47 EPS for the current year.

Hedge Funds Weigh In On scPharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in SCPH. Rubric Capital Management LP raised its position in scPharmaceuticals by 29.0% during the fourth quarter. Rubric Capital Management LP now owns 3,500,000 shares of the company’s stock valued at $21,945,000 after purchasing an additional 786,713 shares in the last quarter. AIGH Capital Management LLC raised its holdings in shares of scPharmaceuticals by 40.8% during the 4th quarter. AIGH Capital Management LLC now owns 3,106,795 shares of the company’s stock valued at $19,480,000 after buying an additional 899,786 shares in the last quarter. BlackRock Inc. lifted its position in scPharmaceuticals by 1,445.7% in the 2nd quarter. BlackRock Inc. now owns 1,729,428 shares of the company’s stock worth $17,623,000 after buying an additional 1,617,539 shares during the last quarter. King Luther Capital Management Corp lifted its position in scPharmaceuticals by 48.8% in the 4th quarter. King Luther Capital Management Corp now owns 1,393,525 shares of the company’s stock worth $8,737,000 after buying an additional 457,150 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in scPharmaceuticals by 12.4% in the fourth quarter. Vanguard Group Inc. now owns 1,369,888 shares of the company’s stock worth $8,589,000 after buying an additional 150,871 shares in the last quarter. 89.52% of the stock is currently owned by institutional investors.

About scPharmaceuticals

scPharmaceuticals Inc, a pharmaceutical company, engages in the development and commercialization of various pharmaceutical products. Its lead product candidate is FUROSCIX that consists of formulation of furosemide, which is delivered through an on-body infusor for treatment of congestion due to fluid overload in adults with chronic heart failure and kidney disease, as well as consists of subcutaneous loop diuretic that delivers IV equivalent diuresis at home; and FUROSCIX On-Body Infusor, a drug-device combination product consisting of FUROSCIX.