scPharmaceuticals (NASDAQ:SCPH) Stock Price Down 5.4%

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

Wall Street Analysts Forecast Growth

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

scPharmaceuticals Price Performance

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

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

Hedge Funds Weigh In On scPharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Rubric Capital Management LP boosted its holdings in scPharmaceuticals by 29.0% during the fourth quarter. Rubric Capital Management LP now owns 3,500,000 shares of the company’s stock worth $21,945,000 after buying an additional 786,713 shares in the last quarter. AIGH Capital Management LLC increased its holdings in scPharmaceuticals by 40.8% in the fourth 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. raised its position in shares of scPharmaceuticals by 1,445.7% in the second quarter. BlackRock Inc. now owns 1,729,428 shares of the company’s stock worth $17,623,000 after acquiring an additional 1,617,539 shares during the period. King Luther Capital Management Corp boosted its stake in shares of scPharmaceuticals by 48.8% during the 4th quarter. King Luther Capital Management Corp now owns 1,393,525 shares of the company’s stock worth $8,737,000 after acquiring an additional 457,150 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of scPharmaceuticals by 12.4% during the 4th quarter. Vanguard Group Inc. now owns 1,369,888 shares of the company’s stock valued at $8,589,000 after acquiring an additional 150,871 shares during the period. 89.52% of the stock is owned by hedge funds and other 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.