Aberdeen Group plc Sells 50,705 Shares of Scholar Rock Holding Corporation $SRRK

Key Points

• Aberdeen Group plc has reduced its stake in Scholar Rock Holding Corporation by 35.7%, selling 50,705 shares, and now owns 0.10% of the company, valued at approximately $2.94 million.
• Scholar Rock reported a loss of ($0.98) earnings per share for the last quarter, missing analysts' expectations by ($0.32).
• The stock has a consensus rating of "Buy" among analysts, with a current target price average of $45.14.

Aberdeen Group plc trimmed its position in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 35.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 91,482 shares of the company's stock after selling 50,705 shares during the period. Aberdeen Group plc owned 0.10% of Scholar Rock worth $2,941,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SRRK. CWM LLC lifted its stake in shares of Scholar Rock by 152.8% in the 1st quarter. CWM LLC now owns 996 shares of the company's stock valued at $32,000 after acquiring an additional 602 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Scholar Rock in the 1st quarter valued at $71,000. GF Fund Management CO. LTD. lifted its stake in shares of Scholar Rock by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock valued at $77,000 after acquiring an additional 430 shares during the last quarter. Tema Etfs LLC bought a new position in shares of Scholar Rock in the 4th quarter valued at $209,000. Finally, Mackenzie Financial Corp bought a new position in shares of Scholar Rock in the 4th quarter valued at $212,000. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Stock Performance

Shares of Scholar Rock stock opened at $34.40 on Thursday. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $35.62 and a two-hundred day moving average price of $33.92. Scholar Rock Holding Corporation has a 1-year low of $6.76 and a 1-year high of $46.98. The company has a market cap of $3.31 billion, a P/E ratio of -11.82 and a beta of 0.48.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.32). During the same period in the previous year, the business posted ($0.60) earnings per share. As a group, analysts anticipate that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Analyst Upgrades and Downgrades

SRRK has been the subject of a number of research reports. Wedbush reiterated an "outperform" rating and issued a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, June 18th. BMO Capital Markets lowered their target price on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Raymond James Financial set a $53.00 target price on Scholar Rock and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Cantor Fitzgerald initiated coverage on Scholar Rock in a research report on Thursday, July 17th. They set an "overweight" rating for the company. Finally, Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Scholar Rock presently has a consensus rating of "Buy" and a consensus target price of $45.14.

Insider Activity

In other Scholar Rock news, insider Mo Qatanani sold 24,066 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $34.44, for a total transaction of $828,833.04. Following the completion of the sale, the insider directly owned 115,495 shares in the company, valued at approximately $3,977,647.80. This trade represents a 17.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Akshay Vaishnaw sold 6,750 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $200,610.00. Following the sale, the insider owned 616,205 shares of the company's stock, valued at approximately $18,313,612.60. The trade was a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,654 shares of company stock worth $3,101,811. 13.30% of the stock is owned by insiders.

About Scholar Rock

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.

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