scPharmaceuticals Inc. (NASDAQ:SCPH) Shares Purchased by Comerica Bank

Comerica Bank raised its holdings in shares of scPharmaceuticals Inc. (NASDAQ:SCPH) by 127.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,662 shares of the company’s stock after purchasing an additional 17,769 shares during the quarter. Comerica Bank owned 0.06% of scPharmaceuticals worth $112,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Corebridge Financial Inc. increased its position in scPharmaceuticals by 29.0% in the 4th quarter. Corebridge Financial Inc. now owns 19,586 shares of the company’s stock valued at $69,000 after acquiring an additional 4,406 shares during the period. Balanced Rock Investment Advisors LLC boosted its position in shares of scPharmaceuticals by 8.7% in the fourth quarter. Balanced Rock Investment Advisors LLC now owns 70,362 shares of the company’s stock worth $249,000 after buying an additional 5,612 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of scPharmaceuticals by 31.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,471 shares of the company’s stock worth $84,000 after buying an additional 5,633 shares during the period. Bank of New York Mellon Corp boosted its position in shares of scPharmaceuticals by 8.8% in the fourth quarter. Bank of New York Mellon Corp now owns 75,174 shares of the company’s stock worth $266,000 after buying an additional 6,051 shares during the period. Finally, Invesco Ltd. boosted its position in scPharmaceuticals by 28.2% during the fourth quarter. Invesco Ltd. now owns 27,614 shares of the company’s stock valued at $98,000 after purchasing an additional 6,073 shares during the last quarter. Institutional investors own 89.52% of the company’s stock.

scPharmaceuticals Trading Up 11.8%

NASDAQ:SCPH opened at $3.22 on Monday. scPharmaceuticals Inc. has a 1-year low of $1.94 and a 1-year high of $5.65. The business’s 50-day moving average price is $2.60 and its two-hundred day moving average price is $3.16. The firm has a market capitalization of $169.99 million, a price-to-earnings ratio of -1.69 and a beta of 0.17. The company has a current ratio of 8.08, a quick ratio of 6.89 and a debt-to-equity ratio of 1.66.

scPharmaceuticals (NASDAQ:SCPH) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.06). The company had revenue of $11.75 million for the quarter, compared to analyst estimates of $11.63 million. scPharmaceuticals had a negative return on equity of 244.93% and a negative net margin of 264.60%. On average, equities analysts expect that scPharmaceuticals Inc. will post -1.53 earnings per share for the current year.

Analyst Ratings Changes

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