2,049,009 Shares in scPharmaceuticals Inc. (NASDAQ:SCPH) Purchased by Suvretta Capital Management LLC

Suvretta Capital Management LLC bought a new stake in scPharmaceuticals Inc. (NASDAQ:SCPH) in the third quarter, HoldingsChannel.com reports. The fund bought 2,049,009 shares of the company’s stock, valued at approximately $9,343,000.

Several other institutional investors also recently made changes to their positions in the stock. Stonepine Capital Management LLC lifted its holdings in shares of scPharmaceuticals by 84.7% in the 3rd quarter. Stonepine Capital Management LLC now owns 778,874 shares of the company’s stock worth $3,552,000 after purchasing an additional 357,171 shares during the last quarter. MetLife Investment Management LLC lifted its stake in scPharmaceuticals by 135.0% in the third quarter. MetLife Investment Management LLC now owns 16,974 shares of the company’s stock valued at $77,000 after buying an additional 9,752 shares during the last quarter. Rubric Capital Management LP boosted its holdings in shares of scPharmaceuticals by 35.5% during the third quarter. Rubric Capital Management LP now owns 4,775,000 shares of the company’s stock valued at $21,774,000 after acquiring an additional 1,250,000 shares during the period. BNP Paribas Financial Markets grew its position in shares of scPharmaceuticals by 116.9% during the third quarter. BNP Paribas Financial Markets now owns 5,753 shares of the company’s stock worth $26,000 after acquiring an additional 3,101 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of scPharmaceuticals in the 3rd quarter worth about $57,000. 89.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of scPharmaceuticals in a research note on Thursday, November 14th. Craig Hallum reduced their price objective on scPharmaceuticals from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

scPharmaceuticals Stock Performance

SCPH stock opened at $3.74 on Friday. The company has a 50-day simple moving average of $4.13 and a 200 day simple moving average of $4.41. The company has a market capitalization of $187.15 million, a P/E ratio of -1.97 and a beta of 0.15. 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 Inc. has a fifty-two week low of $3.08 and a fifty-two week high of $6.71.

scPharmaceuticals 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.