Bank of America Corp DE Buys 3,647 Shares of scPharmaceuticals Inc. (NASDAQ:SCPH)

Bank of America Corp DE lifted its stake in shares of scPharmaceuticals Inc. (NASDAQ:SCPH) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,037 shares of the company’s stock after acquiring an additional 3,647 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of scPharmaceuticals worth $156,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake in shares of scPharmaceuticals by 1,393.1% during the 4th quarter. BNP Paribas Financial Markets now owns 85,900 shares of the company’s stock valued at $304,000 after acquiring an additional 80,147 shares during the period. Apis Capital Advisors LLC boosted its stake in scPharmaceuticals by 146.3% in the 4th quarter. Apis Capital Advisors LLC now owns 394,000 shares of the company’s stock worth $1,395,000 after purchasing an additional 234,000 shares during the period. Jane Street Group LLC boosted 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 purchasing an additional 9,524 shares during the period. Comerica Bank boosted 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 purchasing an additional 17,769 shares during the period. Finally, Nantahala Capital Management LLC boosted its stake in scPharmaceuticals by 33.3% in the 4th quarter. Nantahala Capital Management LLC now owns 1,000,000 shares of the company’s stock worth $3,540,000 after purchasing an additional 250,000 shares during the period. 89.52% of the stock is currently owned by institutional investors.

scPharmaceuticals Stock Up 1.0%

Shares of SCPH opened at $3.99 on Tuesday. The company has a market cap of $210.64 million, a PE ratio of -2.10 and a beta of 0.36. The business has a fifty day moving average of $3.03 and a 200 day moving average of $3.16. scPharmaceuticals Inc. has a 52-week low of $1.94 and a 52-week high of $5.65. The company has a quick ratio of 6.89, a current ratio of 8.08 and a debt-to-equity ratio of 1.66.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SCPH shares. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of scPharmaceuticals in a report on Thursday, March 20th. Maxim Group decreased their price objective on scPharmaceuticals from $20.00 to $12.00 and set a “buy” rating on the stock in a 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.