Aberdeen Group plc Lowers Stock Holdings in 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 stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 35.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,482 shares of the company's stock after selling 50,705 shares during the period. Aberdeen Group plc owned approximately 0.10% of Scholar Rock worth $2,941,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Lord Abbett & CO. LLC increased its holdings in Scholar Rock by 86.2% during the first quarter. Lord Abbett & CO. LLC now owns 877,374 shares of the company's stock valued at $28,207,000 after buying an additional 406,074 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Scholar Rock by 88.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 10,436 shares of the company's stock valued at $336,000 after buying an additional 4,912 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Scholar Rock by 250,491.8% during the 1st quarter. Russell Investments Group Ltd. now owns 182,932 shares of the company's stock valued at $5,881,000 after buying an additional 182,859 shares in the last quarter. Nuveen LLC purchased a new position in shares of Scholar Rock during the 1st quarter valued at about $12,775,000. Finally, Aigen Investment Management LP purchased a new position in shares of Scholar Rock during the 1st quarter valued at about $229,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SRRK shares. Wedbush reaffirmed an "outperform" rating and set a $50.00 price objective on shares of Scholar Rock in a research report on Wednesday, June 18th. Lifesci Capital raised shares of Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Raymond James Financial set a $53.00 price objective on shares of Scholar Rock and gave the stock a "strong-buy" rating in a research note on Wednesday, July 30th. BMO Capital Markets cut their price target on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Finally, Jefferies Financial Group started coverage on Scholar Rock in a research note on Thursday, August 21st. They issued a "buy" rating and a $50.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Scholar Rock presently has a consensus rating of "Buy" and a consensus target price of $45.75.

Scholar Rock Price Performance

SRRK traded up $0.45 during trading on Tuesday, hitting $33.78. 1,407,855 shares of the company traded hands, compared to its average volume of 1,950,398. The company has a market cap of $3.25 billion, a PE ratio of -11.61 and a beta of 0.48. The stock's 50-day simple moving average is $35.79 and its two-hundred day simple moving average is $33.70. Scholar Rock Holding Corporation has a 1 year low of $6.76 and a 1 year high of $46.98. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21.

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

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 24,066 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total transaction of $828,833.04. Following the completion of the transaction, the insider owned 115,495 shares in the company, valued at $3,977,647.80. This trade represents a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey S. Flier sold 20,316 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $32.24, for a total transaction of $654,987.84. Following the transaction, the director owned 24,070 shares of the company's stock, valued at $776,016.80. This trade represents a 45.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,654 shares of company stock valued at $3,101,811 over the last ninety days. Corporate insiders own 13.30% of the company's stock.

Scholar Rock Company Profile

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.