Graham Capital Management L.P. Purchases Shares of 17,624 Scholar Rock Holding Corporation $SRRK

Key Points

• Graham Capital Management L.P. acquired a new stake in Scholar Rock Holding Corporation, purchasing 17,624 shares valued at approximately $567,000 during the first quarter.
• Scholar Rock's quarterly earnings report revealed a loss of ($0.98) per share, missing the consensus estimate of ($0.66) by ($0.32).
• Analysts are optimistic about Scholar Rock, with an average rating of "Buy" and a consensus target price of $45.75 for its stock.

Graham Capital Management L.P. acquired a new stake in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,624 shares of the company's stock, valued at approximately $567,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SRRK. Rafferty Asset Management LLC increased its stake in shares of Scholar Rock by 43.0% in the 1st quarter. Rafferty Asset Management LLC now owns 111,671 shares of the company's stock valued at $3,590,000 after purchasing an additional 33,594 shares during the last quarter. Corebridge Financial Inc. boosted its stake in Scholar Rock by 2.2% in the first quarter. Corebridge Financial Inc. now owns 39,389 shares of the company's stock valued at $1,266,000 after buying an additional 850 shares in the last quarter. AlphaQuest LLC boosted its stake in Scholar Rock by 490.7% in the first quarter. AlphaQuest LLC now owns 5,417 shares of the company's stock valued at $174,000 after buying an additional 4,500 shares in the last quarter. Hsbc Holdings PLC grew its position in Scholar Rock by 27.4% in the first quarter. Hsbc Holdings PLC now owns 16,883 shares of the company's stock valued at $529,000 after acquiring an additional 3,627 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Scholar Rock by 6.9% during the first quarter. Wellington Management Group LLP now owns 1,844,997 shares of the company's stock worth $59,317,000 after acquiring an additional 119,375 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on SRRK. Wedbush restated an "outperform" rating and issued a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, June 18th. Cantor Fitzgerald began coverage on shares of Scholar Rock in a research report on Thursday, July 17th. They issued an "overweight" rating on the stock. BMO Capital Markets lowered their price target on shares of Scholar Rock from $57.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Jefferies Financial Group began 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. Finally, Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $45.75.

Scholar Rock Trading Up 1.9%

SRRK traded up $0.60 during trading on Thursday, reaching $31.84. 1,105,374 shares of the stock traded hands, compared to its average volume of 1,773,716. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. The stock's 50-day moving average is $35.19 and its 200 day moving average is $33.31. Scholar Rock Holding Corporation has a 12 month low of $6.76 and a 12 month high of $46.98. The stock has a market capitalization of $3.06 billion, a PE ratio of -10.94 and a beta of 0.36.

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

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, Director Jeffrey S. Flier sold 11,136 shares of Scholar Rock stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $40.02, for a total value of $445,662.72. Following the completion of the sale, the director directly owned 24,070 shares of the company's stock, valued at approximately $963,281.40. The trade was a 31.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the insider directly owned 115,495 shares in the company, valued at $3,977,647.80. This trade represents a 17.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,654 shares of company stock valued at $2,299,310 in the last quarter. 13.30% of the stock is currently owned by company insiders.

Scholar Rock 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.