Short Interest in scPharmaceuticals, Inc. (NASDAQ:SCPH) Drops By 48.2%

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 large drop in short interest in August. As of August 31st, there was short interest totaling 694,600 shares, a drop 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. Approximately 1.4% of the shares of the company are short sold. Approximately 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.

scPharmaceuticals Price Performance

NASDAQ SCPH opened at $5.63 on Friday. The stock's 50 day moving average is $5.07 and its 200 day moving average is $3.79. The company has a current ratio of 3.85, a quick ratio of 3.14 and a debt-to-equity ratio of 3.86. scPharmaceuticals has a 12 month low of $1.94 and a 12 month high of $6.28. The stock has a market cap of $300.08 million, a PE ratio of -3.11 and a beta of 0.35.

scPharmaceuticals (NASDAQ:SCPH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $15.41 million. Research analysts predict that scPharmaceuticals will post -1.53 EPS for the current fiscal year.

Analyst Ratings Changes

SCPH has been the topic of several research reports. Craig Hallum cut scPharmaceuticals from a "buy" rating to a "hold" rating and set a $6.00 target price on the stock. in a research report on Monday, August 25th. Maxim Group cut scPharmaceuticals from a "buy" rating to a "hold" rating 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. Finally, HC Wainwright cut scPharmaceuticals from a "strong-buy" rating to a "hold" rating and set a $5.35 price objective on the stock. in a research report on Friday, August 29th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $7.78.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SCPH. Price T Rowe Associates Inc. MD purchased a new position in scPharmaceuticals in the 4th quarter worth approximately $54,000. Northern Trust Corp increased its stake in scPharmaceuticals by 27.1% in the 4th quarter. Northern Trust Corp now owns 324,226 shares of the company's stock worth $1,148,000 after acquiring an additional 69,092 shares during the last quarter. Comerica Bank increased its stake in scPharmaceuticals by 127.9% in the 4th quarter. Comerica Bank now owns 31,662 shares of the company's stock worth $112,000 after acquiring an additional 17,769 shares during the last quarter. Jane Street Group LLC increased its stake in scPharmaceuticals by 40.6% in the 4th quarter. Jane Street Group LLC now owns 33,009 shares of the company's stock worth $117,000 after acquiring an additional 9,524 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in scPharmaceuticals by 1,393.1% in the 4th quarter. BNP Paribas Financial Markets now owns 85,900 shares of the company's stock worth $304,000 after acquiring an additional 80,147 shares during the last quarter. 89.52% of the stock is owned by hedge funds and other institutional investors.

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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