Short Interest in scPharmaceuticals, Inc. (NASDAQ:SCPH) Increases By 32.7%

Key Points

• scPharmaceuticals saw a significant increase in short interest, rising by 32.7% to 1,340,000 shares as of August 15th, resulting in a short-interest ratio of 2.0 days.
• Analyst ratings have shifted, with Craig Hallum and HC Wainwright downgrading the stock from a "buy" to a "hold" rating, setting price targets of $6.00 and $5.35 respectively.
• Institutional investors now own 89.52% of scPharmaceuticals, with notable increases in holdings from several firms, reflecting growing interest in the company.

scPharmaceuticals, Inc. (NASDAQ:SCPH - Get Free Report) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totaling 1,340,000 shares, a growth of 32.7% from the July 31st total of 1,010,000 shares. Based on an average trading volume of 682,600 shares, the short-interest ratio is currently 2.0 days. Based on an average trading volume of 682,600 shares, the short-interest ratio is currently 2.0 days.

Institutional Trading of scPharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Velan Capital Investment Management LP bought a new position in shares of scPharmaceuticals in the 1st quarter valued at about $2,413,000. King Luther Capital Management Corp boosted its stake in shares of scPharmaceuticals by 13.5% in the 2nd quarter. King Luther Capital Management Corp now owns 3,541,170 shares of the company's stock valued at $13,492,000 after purchasing an additional 420,000 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of scPharmaceuticals by 41.3% in the 1st quarter. Rice Hall James & Associates LLC now owns 1,398,057 shares of the company's stock valued at $3,677,000 after purchasing an additional 408,422 shares during the last quarter. Kingdon Capital Management L.L.C. boosted its stake in shares of scPharmaceuticals by 25.0% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 1,000,000 shares of the company's stock valued at $2,630,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Apis Capital Advisors LLC boosted its stake in shares of scPharmaceuticals by 28.2% in the 1st quarter. Apis Capital Advisors LLC now owns 504,947 shares of the company's stock valued at $1,328,000 after purchasing an additional 110,947 shares during the last quarter. 89.52% of the stock is currently owned by institutional investors and hedge funds.

scPharmaceuticals Stock Performance

Shares of NASDAQ:SCPH remained flat at $5.63 during trading hours on Friday. 412,213 shares of the stock traded hands, compared to its average volume of 2,323,194. scPharmaceuticals has a one year low of $1.94 and a one year high of $6.28. The company has a debt-to-equity ratio of 3.86, a quick ratio of 3.14 and a current ratio of 3.85. The company's 50 day simple moving average is $5.07 and its two-hundred day simple moving average is $3.80. The stock has a market cap of $300.08 million, a P/E ratio of -3.11 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) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The firm had revenue of $16.04 million during the quarter, compared to analyst estimates of $15.41 million. scPharmaceuticals had a negative return on equity of 1,647.86% and a negative net margin of 183.55%. On average, analysts anticipate that scPharmaceuticals will post -1.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SCPH has been the topic of a number of research reports. Maxim Group cut shares of scPharmaceuticals from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Wall Street Zen raised shares of scPharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Craig Hallum cut shares of scPharmaceuticals from a "buy" rating to a "hold" rating and set a $6.00 target price on the stock. in a report on Monday, August 25th. Finally, HC Wainwright cut shares of scPharmaceuticals from a "strong-buy" rating to a "hold" rating and set a $5.35 target price on the stock. in a report on Friday, August 29th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $7.78.

scPharmaceuticals Company 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.