Intech Investment Management LLC Purchases 21,483 Shares of Scholar Rock Holding Corporation $SRRK

Key Points

• Intech Investment Management LLC increased its stake in Scholar Rock Holding Corporation by 60.9%, acquiring 21,483 additional shares, bringing its total ownership to approximately 0.06% of the company, valued at $1.83 million.
• Scholar Rock's stock recently opened at $32.34 and is down 4.0% with a market capitalization of $3.11 billion and a 12-month price range between $6.76 and $46.98.
• Despite missing quarterly earnings estimates with an EPS of ($0.98), multiple equity analysts have rated the stock as a buy, forecasting a target price upwards of $50.00.

Intech Investment Management LLC raised its stake in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 60.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,784 shares of the company's stock after buying an additional 21,483 shares during the period. Intech Investment Management LLC owned 0.06% of Scholar Rock worth $1,826,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its position in Scholar Rock by 152.8% in the first quarter. CWM LLC now owns 996 shares of the company's stock valued at $32,000 after buying an additional 602 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Scholar Rock in the fourth quarter valued at approximately $85,000. Federated Hermes Inc. acquired a new stake in Scholar Rock in the first quarter valued at approximately $71,000. Mackenzie Financial Corp acquired a new stake in Scholar Rock in the fourth quarter valued at approximately $212,000. Finally, AlphaQuest LLC boosted its position 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. Institutional investors and hedge funds own 91.08% of the company's stock.

Insider Activity

In other news, Director Jeffrey S. Flier sold 11,136 shares of the stock in a transaction that occurred 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 transaction, the director owned 24,070 shares in the company, valued at $963,281.40. This represents a 31.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Katie Peng sold 1,006 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total transaction of $32,725.18. Following the sale, the director owned 33,914 shares in the company, valued at approximately $1,103,222.42. The trade was a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,838 shares of company stock valued at $2,438,562 in the last 90 days. 13.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SRRK shares. Barclays started coverage on shares of Scholar Rock in a research note on Wednesday. They set an "overweight" rating and a $45.00 price target for the company. Wedbush reaffirmed an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, June 18th. Leerink Partnrs raised shares of Scholar Rock to a "strong-buy" rating in a research note on Monday, September 15th. Cantor Fitzgerald started coverage on shares of Scholar Rock in a research note on Thursday, July 17th. They set an "overweight" rating for the company. Finally, BMO Capital Markets dropped their price target on shares of Scholar Rock from $57.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $46.20.

Scholar Rock Trading Down 5.0%

Shares of Scholar Rock stock traded down $1.64 during trading on Friday, reaching $30.84. The company's stock had a trading volume of 3,347,035 shares, compared to its average volume of 1,626,993. Scholar Rock Holding Corporation has a 52-week low of $6.76 and a 52-week high of $46.98. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -10.60 and a beta of 0.36. The firm's 50-day moving average is $34.69 and its two-hundred day moving average is $33.12. 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 (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings data 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 period last year, the company posted ($0.60) EPS. On average, sell-side analysts anticipate that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

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.