Charles Schwab Investment Management Inc. Reduces Stock Position in scPharmaceuticals Inc. (NASDAQ:SCPH)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of scPharmaceuticals Inc. (NASDAQ:SCPH) by 4.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 75,890 shares of the company’s stock after selling 3,312 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in scPharmaceuticals were worth $346,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Balanced Rock Investment Advisors LLC increased its stake in scPharmaceuticals by 10.3% during the second quarter. Balanced Rock Investment Advisors LLC now owns 63,130 shares of the company’s stock worth $275,000 after acquiring an additional 5,882 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of scPharmaceuticals by 266.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 72,692 shares of the company’s stock valued at $316,000 after purchasing an additional 52,870 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in scPharmaceuticals by 15.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 86,101 shares of the company’s stock valued at $375,000 after buying an additional 11,269 shares during the period. Bank of Montreal Can bought a new stake in scPharmaceuticals in the second quarter worth $1,544,000. Finally, Rice Hall James & Associates LLC boosted its stake in scPharmaceuticals by 76.9% during the second quarter. Rice Hall James & Associates LLC now owns 497,227 shares of the company’s stock worth $2,163,000 after buying an additional 216,122 shares during the period. Institutional investors own 89.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

scPharmaceuticals Price Performance

Shares of SCPH stock opened at $3.31 on Friday. The stock has a 50 day moving average price of $3.85 and a 200 day moving average price of $4.35. scPharmaceuticals Inc. has a 52-week low of $3.08 and a 52-week high of $6.71. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.89 and a current ratio of 8.08. The firm has a market capitalization of $165.63 million, a P/E ratio of -1.74 and a beta of 0.14.

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.