Short Interest in scPharmaceuticals Inc. (NASDAQ:SCPH) Rises By 19.9%

scPharmaceuticals Inc. (NASDAQ:SCPH) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 5,780,000 shares, a growth of 19.9% from the May 31st total of 4,820,000 shares. Based on an average daily trading volume, of 237,500 shares, the short-interest ratio is presently 24.3 days. Currently, 26.5% of the company’s shares are sold short.

Hedge Funds Weigh In On scPharmaceuticals

Large investors have recently modified their holdings of the company. Perkins Capital Management Inc. purchased a new stake in scPharmaceuticals in the 1st quarter valued at $53,000. IPG Investment Advisors LLC purchased a new stake in scPharmaceuticals in the 4th quarter valued at $75,000. Virtu Financial LLC purchased a new stake in scPharmaceuticals in the 1st quarter valued at $90,000. Assenagon Asset Management S.A. purchased a new stake in scPharmaceuticals in the 1st quarter valued at $100,000. Finally, Thomasville National Bank raised its position in scPharmaceuticals by 11.5% in the 1st quarter. Thomasville National Bank now owns 36,800 shares of the company’s stock valued at $185,000 after buying an additional 3,800 shares during the last quarter. 89.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of scPharmaceuticals in a report on Wednesday, May 15th.

scPharmaceuticals Stock Down 0.7 %

Shares of SCPH opened at $4.32 on Tuesday. scPharmaceuticals has a 12-month low of $3.24 and a 12-month high of $10.09. The business’s fifty day moving average is $4.22 and its 200 day moving average is $5.08. The company has a current ratio of 6.21, a quick ratio of 5.44 and a debt-to-equity ratio of 1.60.

scPharmaceuticals (NASDAQ:SCPH) last issued its earnings results on Tuesday, May 14th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. scPharmaceuticals had a negative return on equity of 132.39% and a negative net margin of 327.29%. The company had revenue of $6.10 million for the quarter, compared to analysts’ expectations of $6.50 million. During the same period last year, the business earned ($0.30) EPS. On average, research analysts predict that scPharmaceuticals will post -1.46 EPS for the current fiscal 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.