Candriam S.C.A. Decreases Position 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. lessened its stake in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 14.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 496,756 shares of the company's stock after selling 85,598 shares during the quarter. Candriam S.C.A. owned about 0.52% of Scholar Rock worth $15,971,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC increased its position in Scholar Rock by 86.2% during the first quarter. Lord Abbett & CO. LLC now owns 877,374 shares of the company's stock worth $28,207,000 after buying an additional 406,074 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Scholar Rock by 42.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,231 shares of the company's stock worth $5,845,000 after buying an additional 40,436 shares during the period. GAMMA Investing LLC increased its position in Scholar Rock by 3,824.9% during the first quarter. GAMMA Investing LLC now owns 30,928 shares of the company's stock worth $962,000 after buying an additional 30,140 shares during the period. Blackstone Inc. acquired a new position in Scholar Rock during the fourth quarter worth approximately $910,000. Finally, Raymond James Financial Inc. acquired a new position in Scholar Rock during the fourth quarter worth approximately $2,625,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Scholar Rock Price Performance

Shares of Scholar Rock stock traded up $0.67 during trading on Tuesday, reaching $34.00. The company's stock had a trading volume of 388,159 shares, compared to its average volume of 1,270,798. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. Scholar Rock Holding Corporation has a 12-month low of $6.76 and a 12-month high of $46.98. The company has a market capitalization of $3.27 billion, a P/E ratio of -11.68 and a beta of 0.48. The business has a 50 day moving average price of $35.73 and a 200-day moving average price of $33.70.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last posted 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 quarter in the previous year, the firm posted ($0.60) earnings per share. As a group, sell-side analysts anticipate that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

SRRK has been the topic of several research analyst reports. Wedbush reaffirmed an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a research report on Wednesday, June 18th. Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. BMO Capital Markets cut their price target on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Raymond James Financial set a $53.00 target price on Scholar Rock and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, Cantor Fitzgerald initiated coverage on Scholar Rock in a research note on Thursday, July 17th. They issued an "overweight" rating on the stock. Two analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $45.75.

Insider Transactions at Scholar Rock

In other Scholar Rock news, Director Joshua Reed sold 5,400 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total transaction of $160,488.00. Following the sale, the director directly owned 15,732 shares in the company, valued at approximately $467,555.04. The trade was a 25.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mo Qatanani sold 24,066 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $34.44, for a total value of $828,833.04. Following the sale, the insider owned 115,495 shares in the company, valued at approximately $3,977,647.80. The trade was a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,654 shares of company stock valued at $3,101,811. 13.30% of the stock is owned by company insiders.

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.