JPMorgan Chase & Co. Raises Position in scPharmaceuticals Inc. (NASDAQ:SCPH)

JPMorgan Chase & Co. boosted its position in scPharmaceuticals Inc. (NASDAQ:SCPH) by 587.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,827 shares of the company’s stock after purchasing an additional 72,485 shares during the period. JPMorgan Chase & Co. owned about 0.17% of scPharmaceuticals worth $300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of scPharmaceuticals by 31.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,471 shares of the company’s stock worth $84,000 after acquiring an additional 5,633 shares in the last quarter. Corebridge Financial Inc. increased its position in shares of scPharmaceuticals by 29.0% during the fourth quarter. Corebridge Financial Inc. now owns 19,586 shares of the company’s stock valued at $69,000 after buying an additional 4,406 shares during the period. King Luther Capital Management Corp lifted its holdings 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. Raymond James Financial Inc. bought a new position in shares of scPharmaceuticals in the fourth quarter valued at approximately $318,000. Finally, Charles Schwab Investment Management Inc. grew its stake in scPharmaceuticals by 35.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 102,854 shares of the company’s stock valued at $364,000 after acquiring an additional 26,964 shares in the last quarter. 89.52% of the stock is owned by institutional investors.

scPharmaceuticals Price Performance

SCPH stock opened at $2.60 on Friday. The firm has a 50 day simple moving average of $2.72 and a two-hundred day simple moving average of $3.30. The stock has a market cap of $130.74 million, a PE ratio of -1.37 and a beta of 0.38. scPharmaceuticals Inc. has a one year low of $1.94 and a one year high of $5.65. The company has a debt-to-equity ratio of 1.66, a current ratio of 8.08 and a quick ratio of 6.89.

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

Analyst Ratings Changes

SCPH has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of scPharmaceuticals in a report on Thursday, March 20th. Maxim Group reduced their target price on scPharmaceuticals from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, March 20th.

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.