scPharmaceuticals Inc. (NASDAQ:SCPH) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in shares of scPharmaceuticals Inc. (NASDAQ:SCPH) by 8.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 75,174 shares of the company’s stock after buying an additional 6,051 shares during the period. Bank of New York Mellon Corp’s holdings in scPharmaceuticals were worth $266,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Rice Hall James & Associates LLC lifted its position in scPharmaceuticals by 59.2% in the fourth quarter. Rice Hall James & Associates LLC now owns 989,635 shares of the company’s stock valued at $3,503,000 after purchasing an additional 367,970 shares during the period. Walleye Capital LLC lifted its holdings in shares of scPharmaceuticals by 27.0% in the 3rd quarter. Walleye Capital LLC now owns 475,555 shares of the company’s stock valued at $2,169,000 after buying an additional 101,148 shares during the period. Geode Capital Management LLC boosted its stake in shares of scPharmaceuticals by 10.6% in the third quarter. Geode Capital Management LLC now owns 643,342 shares of the company’s stock valued at $2,934,000 after buying an additional 61,582 shares in the last quarter. State Street Corp raised its position in scPharmaceuticals by 5.2% in the third quarter. State Street Corp now owns 682,135 shares of the company’s stock worth $3,111,000 after acquiring an additional 33,879 shares in the last quarter. Finally, Barclays PLC raised its position in scPharmaceuticals by 317.2% in the third quarter. Barclays PLC now owns 40,644 shares of the company’s stock worth $186,000 after acquiring an additional 30,902 shares in the last quarter. Institutional investors and hedge funds own 89.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Maxim Group reduced their price objective on shares of scPharmaceuticals from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of scPharmaceuticals in a research note on Thursday, March 20th.

scPharmaceuticals Price Performance

scPharmaceuticals stock opened at $2.78 on Friday. The firm has a market capitalization of $139.79 million, a PE ratio of -1.46 and a beta of 0.40. scPharmaceuticals Inc. has a 52 week low of $2.72 and a 52 week high of $5.65. The firm’s 50-day simple moving average is $3.23 and its 200 day simple moving average is $3.70. 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 announced its earnings results 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. The company had revenue of $12.15 million during the quarter, compared to analysts’ expectations of $12.08 million. scPharmaceuticals had a negative net margin of 264.60% and a negative return on equity of 244.93%. On average, equities research analysts predict that scPharmaceuticals Inc. will post -1.53 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.