Candriam S.C.A. Trims Holdings in Scholar Rock Holding Corporation $SRRK

Key Points

• Candriam S.C.A. reduced its stock position in Scholar Rock Holding Corporation by 14.7% during Q1, owning 496,756 shares valued at approximately $15.97 million.
• Multiple hedge funds made significant investments in Scholar Rock, with Fairmount Funds Management LLC and Adage Capital Partners purchasing new stakes worth over $84 million and $68 million, respectively.
• Scholar Rock recently faced a loss of $0.98 EPS for the quarter, missing analyst expectations, while analysts maintain an overall consensus rating of "Buy" with a target price of $45.14.

Candriam S.C.A. trimmed its holdings in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 14.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 496,756 shares of the company's stock after selling 85,598 shares during the quarter. Candriam S.C.A. owned approximately 0.52% of Scholar Rock worth $15,971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SRRK. CWM LLC boosted its stake in Scholar Rock by 152.8% in the 1st quarter. CWM LLC now owns 996 shares of the company's stock worth $32,000 after purchasing an additional 602 shares during the period. Federated Hermes Inc. bought a new position in Scholar Rock in the 1st quarter worth approximately $71,000. GF Fund Management CO. LTD. boosted its stake in Scholar Rock by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after purchasing an additional 430 shares during the period. Tema Etfs LLC bought a new position in Scholar Rock in the 4th quarter worth approximately $209,000. Finally, Mackenzie Financial Corp bought a new position in Scholar Rock in the 4th quarter worth approximately $212,000. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Trading Up 2.6%

NASDAQ:SRRK traded up $0.90 during midday trading on Friday, hitting $35.49. 2,050,026 shares of the company traded hands, compared to its average volume of 1,853,983. The firm's fifty day moving average is $35.71 and its 200-day moving average is $33.79. Scholar Rock Holding Corporation has a 12-month low of $6.76 and a 12-month high of $46.98. The firm has a market capitalization of $3.41 billion, a P/E ratio of -12.20 and a beta of 0.48. 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 released its quarterly 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 posted ($0.60) earnings per share. On average, sell-side analysts predict that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Michael Gilman sold 3,375 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $100,305.00. Following the sale, the director owned 55,216 shares in the company, valued at $1,641,019.52. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Akshay Vaishnaw sold 6,750 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $200,610.00. Following the completion of the sale, the insider owned 616,205 shares in the company, valued at approximately $18,313,612.60. The trade was a 1.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,654 shares of company stock worth $3,101,811 in the last ninety days. Corporate insiders own 13.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SRRK shares. Jefferies Financial Group started coverage on Scholar Rock in a research report on Thursday. They set a "buy" rating and a $50.00 target price for the company. 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. Cantor Fitzgerald started coverage on Scholar Rock in a research report on Thursday, July 17th. They set an "overweight" rating for the company. Raymond James Financial set a $53.00 target price on Scholar Rock and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, Wedbush reiterated an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research report on Wednesday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $45.75.

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.