Velan Capital Investment Management LP Purchases Shares of 917,668 scPharmaceuticals, Inc. $SCPH

Key Points

• Velan Capital Investment Management LP recently acquired a new stake in scPharmaceuticals, Inc., purchasing 917,668 shares valued at approximately $2.4 million, making it the fund's 12th largest holding.
• Analysts have recently downgraded scPharmaceuticals with a consensus rating of "Hold" and an average price target of $12.00, despite the stock experiencing fluctuations in its market performance.
• scPharmaceuticals reported a loss of ($0.34) earnings per share for the latest quarter, missing analyst estimates, but had revenues of $16.04 million, exceeding expectations.

Velan Capital Investment Management LP purchased a new stake in scPharmaceuticals, Inc. (NASDAQ:SCPH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 917,668 shares of the company's stock, valued at approximately $2,413,000. scPharmaceuticals comprises about 2.5% of Velan Capital Investment Management LP's holdings, making the stock its 12th biggest holding. Velan Capital Investment Management LP owned approximately 1.82% of scPharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets raised its position in scPharmaceuticals by 1,393.1% in the 4th quarter. BNP Paribas Financial Markets now owns 85,900 shares of the company's stock valued at $304,000 after buying an additional 80,147 shares during the last quarter. Comerica Bank increased its position in shares of scPharmaceuticals by 127.9% during the 4th quarter. Comerica Bank now owns 31,662 shares of the company's stock valued at $112,000 after purchasing an additional 17,769 shares during the last quarter. Bank of America Corp DE increased its position in shares of scPharmaceuticals by 9.0% during the 4th quarter. Bank of America Corp DE now owns 44,037 shares of the company's stock valued at $156,000 after purchasing an additional 3,647 shares during the last quarter. Deutsche Bank AG increased its position in shares of scPharmaceuticals by 514.5% during the 4th quarter. Deutsche Bank AG now owns 82,488 shares of the company's stock valued at $292,000 after purchasing an additional 69,064 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of scPharmaceuticals by 40.6% during the 4th quarter. Jane Street Group LLC now owns 33,009 shares of the company's stock valued at $117,000 after purchasing an additional 9,524 shares during the last quarter. 89.52% of the stock is owned by hedge funds and other institutional investors.

scPharmaceuticals Stock Performance

Shares of SCPH stock traded up $0.01 on Wednesday, hitting $5.52. 539,569 shares of the stock were exchanged, compared to its average volume of 595,729. The company has a current ratio of 3.85, a quick ratio of 3.14 and a debt-to-equity ratio of 3.86. The firm has a market capitalization of $293.94 million, a PE ratio of -3.05 and a beta of 0.35. scPharmaceuticals, Inc. has a one year low of $1.94 and a one year high of $6.28. The firm's 50 day moving average is $4.81 and its two-hundred day moving average is $3.67.

scPharmaceuticals (NASDAQ:SCPH - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.34) 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 company had revenue of $16.04 million during the quarter, compared to the consensus estimate of $15.41 million. Sell-side analysts expect that scPharmaceuticals, Inc. will post -1.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

scPharmaceuticals Profile

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.