scPharmaceuticals, Inc. (NASDAQ:SCPH) Short Interest Down 48.2% in August

Key Points

• Short interest in scPharmaceuticals dropped by 48.2%, falling from 1,340,000 shares to 694,600 as of August 31st.
• The company reported a quarterly EPS of ($0.34), missing analysts' expectations, but surpassed revenue forecasts with $16.04 million in revenue.
• Recent analyst ratings show a trend towards "hold" with multiple firms reducing their ratings; Craig Hallum set a target price of $6.00.

scPharmaceuticals, Inc. (NASDAQ:SCPH - Get Free Report) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 694,600 shares, a decline of 48.2% from the August 15th total of 1,340,000 shares. Based on an average daily trading volume, of 914,400 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.4% of the shares of the company are short sold. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 914,400 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On scPharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors grew its holdings in shares of scPharmaceuticals by 9.0% during the second quarter. Captrust Financial Advisors now owns 43,746 shares of the company's stock valued at $167,000 after buying an additional 3,621 shares in the last quarter. Balanced Rock Investment Advisors LLC lifted its position in shares of scPharmaceuticals by 27.8% during the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,968 shares of the company's stock worth $347,000 after purchasing an additional 19,768 shares during the last quarter. Pale Fire Capital SE bought a new stake in shares of scPharmaceuticals in the 2nd quarter valued at approximately $218,000. Walleye Capital LLC bought a new stake in shares of scPharmaceuticals in the 2nd quarter valued at approximately $43,000. Finally, Lido Advisors LLC grew its position in scPharmaceuticals by 14.6% during the 2nd quarter. Lido Advisors LLC now owns 27,500 shares of the company's stock worth $105,000 after acquiring an additional 3,500 shares during the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

scPharmaceuticals Stock Performance

scPharmaceuticals stock traded down $0.01 during mid-day trading on Friday, hitting $5.62. 462,829 shares of the company's stock traded hands, compared to its average volume of 619,078. The firm has a 50 day moving average price of $5.20 and a 200 day moving average price of $3.85. 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 company has a market cap of $299.28 million, a PE ratio of -3.10 and a beta of 0.35. scPharmaceuticals has a one year low of $1.94 and a one year high of $6.28.

scPharmaceuticals (NASDAQ:SCPH - Get Free Report) last announced its earnings results 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). scPharmaceuticals had a negative net margin of 183.55% and a negative return on equity of 1,647.86%. The business had revenue of $16.04 million for the quarter, compared to the consensus estimate of $15.41 million. On average, equities analysts forecast that scPharmaceuticals will post -1.53 EPS for the current year.

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.