Short Interest in scPharmaceuticals Inc. (NASDAQ:SCPH) Drops By 15.0%

scPharmaceuticals Inc. (NASDAQ:SCPH - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 4,820,000 shares, a drop of 15.0% from the March 15th total of 5,670,000 shares. Based on an average trading volume of 441,300 shares, the short-interest ratio is currently 10.9 days. Approximately 10.2% of the company's stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SCPH. Rhumbline Advisers grew its stake in shares of scPharmaceuticals by 20.1% in the fourth quarter. Rhumbline Advisers now owns 42,554 shares of the company's stock valued at $151,000 after buying an additional 7,112 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of scPharmaceuticals during the 3rd quarter worth about $75,000. XTX Topco Ltd bought a new stake in shares of scPharmaceuticals in the 3rd quarter valued at about $124,000. State Street Corp lifted its stake in scPharmaceuticals by 5.2% in the 3rd quarter. State Street Corp now owns 682,135 shares of the company's stock valued at $3,111,000 after purchasing an additional 33,879 shares during the last quarter. Finally, Corebridge Financial Inc. grew its holdings in scPharmaceuticals by 29.0% during the fourth quarter. Corebridge Financial Inc. now owns 19,586 shares of the company's stock worth $69,000 after purchasing an additional 4,406 shares during the period. Institutional investors and hedge funds own 89.52% of the company's stock.

scPharmaceuticals Stock Up 0.4 %

scPharmaceuticals stock traded up $0.01 during mid-day trading on Friday, reaching $2.51. The company's stock had a trading volume of 249,220 shares, compared to its average volume of 356,393. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.89 and a current ratio of 8.08. scPharmaceuticals has a 12 month low of $1.94 and a 12 month high of $5.65. The business's 50 day simple moving average is $2.81 and its 200 day simple moving average is $3.36. The company has a market capitalization of $126.21 million, a price-to-earnings ratio of -1.32 and a beta of 0.38.

scPharmaceuticals (NASDAQ:SCPH - Get Free Report) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.05. scPharmaceuticals had a negative return on equity of 244.93% and a negative net margin of 264.60%. The company had revenue of $12.15 million during the quarter, compared to analysts' expectations of $12.08 million. As a group, research analysts anticipate that scPharmaceuticals will post -1.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $18.00 target price on shares of scPharmaceuticals in a report on Thursday, March 20th. Maxim Group decreased their price objective on scPharmaceuticals from $20.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, March 20th.

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.