Corebridge Financial Inc. Raises Holdings in scPharmaceuticals Inc. (NASDAQ:SCPH)

Corebridge Financial Inc. raised its position in scPharmaceuticals Inc. (NASDAQ:SCPH) by 29.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,586 shares of the company’s stock after purchasing an additional 4,406 shares during the period. Corebridge Financial Inc.’s holdings in scPharmaceuticals were worth $69,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SCPH. King Luther Capital Management Corp lifted its stake in shares of scPharmaceuticals by 28.4% in the fourth quarter. King Luther Capital Management Corp now owns 2,857,910 shares of the company’s stock worth $10,117,000 after buying an additional 632,120 shares in the last quarter. Rice Hall James & Associates LLC lifted its stake in scPharmaceuticals by 59.2% in the 4th quarter. Rice Hall James & Associates LLC now owns 989,635 shares of the company’s stock worth $3,503,000 after purchasing an additional 367,970 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of scPharmaceuticals during the 4th quarter worth approximately $318,000. Johnson Financial Group LLC purchased a new stake in shares of scPharmaceuticals in the fourth quarter valued at approximately $302,000. Finally, Geode Capital Management LLC grew its position in shares of scPharmaceuticals by 10.6% in the third quarter. Geode Capital Management LLC now owns 643,342 shares of the company’s stock valued at $2,934,000 after purchasing an additional 61,582 shares in the last quarter. Institutional investors and hedge funds own 89.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SCPH shares. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of scPharmaceuticals in a research note on Thursday, March 20th. Maxim Group dropped their price objective on shares of scPharmaceuticals from $20.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, March 20th.

scPharmaceuticals Trading Up 2.3 %

Shares of scPharmaceuticals stock opened at $2.64 on Wednesday. The stock has a 50 day moving average of $2.97 and a 200 day moving average of $3.45. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.89 and a current ratio of 8.08. The firm has a market capitalization of $132.75 million, a price-to-earnings ratio of -1.39 and a beta of 0.38. scPharmaceuticals Inc. has a fifty-two week low of $1.94 and a fifty-two week high of $5.65.

scPharmaceuticals (NASDAQ:SCPH) last released its quarterly earnings results on Wednesday, March 19th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The business had revenue of $12.15 million during the quarter, compared to analysts’ expectations of $12.08 million. scPharmaceuticals had a negative return on equity of 244.93% and a negative net margin of 264.60%. As a group, research analysts predict that scPharmaceuticals Inc. will post -1.53 earnings per share for the current year.

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.