scPharmaceuticals, Inc. $SCPH Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in scPharmaceuticals by 70.5%, selling 288,563 shares and now holding 120,897 shares valued at approximately $318,000.
• Institutional investors hold 89.52% of scPharmaceuticals' stock, with notable changes in holdings from several funds during the first quarter of 2023.
• scPharmaceuticals reported a net loss of ($0.34) EPS for the last quarter, not meeting the consensus estimate, and had revenues of $16.04 million, exceeding analyst forecasts.

Goldman Sachs Group Inc. decreased its position in shares of scPharmaceuticals, Inc. (NASDAQ:SCPH - Free Report) by 70.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,897 shares of the company's stock after selling 288,563 shares during the quarter. Goldman Sachs Group Inc. owned 0.23% of scPharmaceuticals worth $318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCPH. Chicago Partners Investment Group LLC acquired a new stake in shares of scPharmaceuticals during the 1st quarter worth approximately $31,000. Assenagon Asset Management S.A. acquired a new stake in shares of scPharmaceuticals during the 1st quarter worth approximately $33,000. Legato Capital Management LLC grew its stake in shares of scPharmaceuticals by 48.1% during the 1st quarter. Legato Capital Management LLC now owns 15,275 shares of the company's stock worth $40,000 after purchasing an additional 4,961 shares during the period. Perkins Capital Management Inc. grew its stake in shares of scPharmaceuticals by 41.0% during the 1st quarter. Perkins Capital Management Inc. now owns 17,200 shares of the company's stock worth $45,000 after purchasing an additional 5,000 shares during the period. Finally, ProShare Advisors LLC acquired a new stake in shares of scPharmaceuticals during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 89.52% of the company's stock.

scPharmaceuticals Trading Up 0.7%

Shares of SCPH opened at $5.65 on Friday. scPharmaceuticals, Inc. has a 52-week low of $1.94 and a 52-week high of $6.28. The company has a quick ratio of 3.14, a current ratio of 3.85 and a debt-to-equity ratio of 3.86. The firm's fifty day moving average is $5.32 and its two-hundred day moving average is $3.97. The stock has a market cap of $301.13 million, a PE ratio of -3.12 and a beta of 0.35.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on SCPH. Wall Street Zen raised shares of scPharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Maxim Group lowered shares of scPharmaceuticals from a "buy" rating to a "hold" rating in a report on Monday, August 25th. HC Wainwright lowered shares of scPharmaceuticals from a "strong-buy" rating to a "hold" rating and set a $5.35 price target for the company. in a report on Friday, August 29th. Finally, Craig Hallum lowered shares of scPharmaceuticals from a "buy" rating to a "hold" rating and set a $6.00 price target for the company. in a report on Monday, August 25th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $7.78.

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.

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