Geode Capital Management LLC Boosts Holdings in scPharmaceuticals Inc. (NASDAQ:SCPH)

Geode Capital Management LLC increased its holdings in scPharmaceuticals Inc. (NASDAQ:SCPH) by 16.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 750,493 shares of the company’s stock after purchasing an additional 107,151 shares during the period. Geode Capital Management LLC owned 1.50% of scPharmaceuticals worth $2,657,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SCPH. Legato Capital Management LLC purchased a new position in scPharmaceuticals in the 4th quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. bought a new stake in scPharmaceuticals in the 4th quarter worth approximately $38,000. Virtu Financial LLC bought a new stake in scPharmaceuticals in the 3rd quarter worth approximately $46,000. SG Americas Securities LLC bought a new stake in scPharmaceuticals in the 4th quarter worth approximately $66,000. Finally, Corebridge Financial Inc. increased its stake in scPharmaceuticals by 29.0% in the 4th quarter. Corebridge Financial Inc. now owns 19,586 shares of the company’s stock worth $69,000 after acquiring an additional 4,406 shares during the last quarter. 89.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of scPharmaceuticals in a research note on Thursday, March 20th. Maxim Group reduced their price objective on scPharmaceuticals from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th.

scPharmaceuticals Stock Performance

NASDAQ SCPH opened at $2.45 on Tuesday. The company has a market cap of $123.20 million, a P/E ratio of -1.29 and a beta of 0.38. 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 business’s 50 day moving average price is $2.79 and its 200-day moving average price is $3.34. scPharmaceuticals Inc. has a fifty-two week low of $1.94 and a fifty-two week high of $5.65.

scPharmaceuticals (NASDAQ:SCPH) last posted its quarterly earnings results on Wednesday, March 19th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.05. The company had revenue of $12.15 million for the quarter, compared to the consensus estimate of $12.08 million. scPharmaceuticals had a negative net margin of 264.60% and a negative return on equity of 244.93%. Sell-side analysts predict that scPharmaceuticals Inc. will post -1.53 earnings per share 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.