Suvretta Capital Management LLC Makes New $9.34 Million Investment in scPharmaceuticals Inc. (NASDAQ:SCPH)

Suvretta Capital Management LLC purchased a new position in shares of scPharmaceuticals Inc. (NASDAQ:SCPH - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,049,009 shares of the company's stock, valued at approximately $9,343,000. Suvretta Capital Management LLC owned about 4.10% of scPharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SCPH shares. HC Wainwright reiterated a "buy" rating and issued a $18.00 target price on shares of scPharmaceuticals in a research note on Thursday, November 14th. Craig Hallum decreased their price target on scPharmaceuticals from $16.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, November 14th.

scPharmaceuticals Stock Down 3.2 %

scPharmaceuticals stock traded down $0.12 during midday trading on Friday, hitting $3.62. 204,746 shares of the stock were exchanged, compared to its average volume of 274,733. scPharmaceuticals Inc. has a 1 year low of $3.08 and a 1 year high of $6.71. The company has a debt-to-equity ratio of 1.66, a current ratio of 8.08 and a quick ratio of 6.89. The firm has a market cap of $181.14 million, a P/E ratio of -1.91 and a beta of 0.15. The company has a 50 day moving average price of $4.13 and a two-hundred day moving average price of $4.41.

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.