King Luther Capital Management Corp Buys 263,260 Shares of scPharmaceuticals, Inc. (NASDAQ:SCPH)

Key Points

• King Luther Capital Management Corp increased its holdings in scPharmaceuticals by 9.2%, acquiring a total of approximately 3.12 million shares valued at $8.21 million.
• Wall Street analysts have upgraded scPharmaceuticals from a "sell" rating to a "hold" rating, indicating a cautious optimism about the company's performance.
• In its latest earnings report, scPharmaceuticals reported a loss of ($0.34) earnings per share, missing analyst expectations by ($0.04), despite exceeding revenue forecasts with $16.04 million.

King Luther Capital Management Corp raised its position in shares of scPharmaceuticals, Inc. (NASDAQ:SCPH - Free Report) by 9.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,121,170 shares of the company's stock after acquiring an additional 263,260 shares during the period. King Luther Capital Management Corp owned approximately 6.21% of scPharmaceuticals worth $8,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new position in scPharmaceuticals during the 1st quarter valued at $33,000. Chicago Partners Investment Group LLC acquired a new position in shares of scPharmaceuticals during the first quarter valued at about $31,000. ProShare Advisors LLC bought a new stake in shares of scPharmaceuticals in the fourth quarter valued at about $48,000. Price T Rowe Associates Inc. MD bought a new position in scPharmaceuticals during the fourth quarter valued at about $54,000. Finally, Legato Capital Management LLC lifted its position in shares of scPharmaceuticals by 48.1% in the 1st quarter. Legato Capital Management LLC now owns 15,275 shares of the company's stock worth $40,000 after acquiring an additional 4,961 shares during the period. 89.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of scPharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th.

scPharmaceuticals Price Performance

Shares of SCPH traded up $0.17 on Thursday, hitting $4.95. The company's stock had a trading volume of 616,237 shares, compared to its average volume of 384,486. The company has a 50 day moving average price of $4.51 and a 200 day moving average price of $3.50. The company has a debt-to-equity ratio of 3.86, a current ratio of 3.85 and a quick ratio of 3.14. scPharmaceuticals, Inc. has a fifty-two week low of $1.94 and a fifty-two week high of $6.28. The company has a market capitalization of $263.84 million, a PE ratio of -2.73 and a beta of 0.40.

scPharmaceuticals (NASDAQ:SCPH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The company had revenue of $16.04 million during the quarter, compared to analyst estimates of $15.41 million. scPharmaceuticals had a negative net margin of 183.55% and a negative return on equity of 1,647.86%. On average, research analysts anticipate that scPharmaceuticals, Inc. will post -1.53 earnings per share for the current fiscal year.

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.