scPharmaceuticals (NASDAQ:SCPH) Stock Price Down 5.4%

scPharmaceuticals Inc. (NASDAQ:SCPH)’s stock 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 were traded during trading, an increase of 9% from the average session volume of 229,421 shares. The stock had previously closed at $4.67.

Analysts Set New Price Targets

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

scPharmaceuticals Stock Down 5.4 %

The firm has a market capitalization of $159.34 million, a price-to-earnings ratio of -3.11 and a beta of 0.06. The company has a debt-to-equity ratio of 1.04, a quick ratio of 6.40 and a current ratio of 7.08. The business’s 50 day moving average is $5.38 and its 200-day moving average is $5.60.

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

Hedge Funds Weigh In On scPharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in scPharmaceuticals by 7.0% in the first quarter. Dimensional Fund Advisors LP now owns 103,534 shares of the company’s stock valued at $588,000 after buying an additional 6,787 shares in the last quarter. Worth Venture Partners LLC raised its stake in shares of scPharmaceuticals by 4.7% in the first quarter. Worth Venture Partners LLC now owns 348,425 shares of the company’s stock valued at $1,979,000 after acquiring an additional 15,778 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of scPharmaceuticals by 3.0% in the 2nd quarter. Renaissance Technologies LLC now owns 191,586 shares of the company’s stock worth $923,000 after acquiring an additional 5,500 shares in the last quarter. Virtu Financial LLC bought a new stake in scPharmaceuticals during the 2nd quarter worth approximately $53,000. Finally, Millennium Management LLC increased its holdings in scPharmaceuticals by 46.2% during the 2nd quarter. Millennium Management LLC now owns 36,216 shares of the company’s stock valued at $175,000 after purchasing an additional 11,445 shares in the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.

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.