Scholar Rock Holding Corporation $SRRK Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Scholar Rock Holding Corporation by 82.4%, selling 257,224 shares and retaining just 54,937 shares valued at approximately $1.77 million.
• Several hedge funds are actively adjusting their positions in Scholar Rock, with CWM LLC increasing its stake by 152.8% in the same quarter.
• Analysts have given Scholar Rock an average rating of "Buy", with a consensus price target of $45.75, even as the company reported a significant earnings miss in its last quarter.

Invesco Ltd. lowered its holdings in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 82.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,937 shares of the company's stock after selling 257,224 shares during the quarter. Invesco Ltd. owned approximately 0.06% of Scholar Rock worth $1,766,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SRRK. Vanguard Group Inc. boosted its stake in Scholar Rock by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 4,845,205 shares of the company's stock worth $155,773,000 after purchasing an additional 101,723 shares during the period. Bellevue Group AG boosted its position in shares of Scholar Rock by 16.2% during the 4th quarter. Bellevue Group AG now owns 2,510,690 shares of the company's stock valued at $108,512,000 after acquiring an additional 349,487 shares during the last quarter. Fairmount Funds Management LLC bought a new position in shares of Scholar Rock during the 4th quarter valued at approximately $84,839,000. Wellington Management Group LLP boosted its position in shares of Scholar Rock by 763.8% during the 4th quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company's stock valued at $74,581,000 after acquiring an additional 1,525,845 shares during the last quarter. Finally, Woodline Partners LP boosted its position in shares of Scholar Rock by 53.5% during the 4th quarter. Woodline Partners LP now owns 1,089,461 shares of the company's stock valued at $47,087,000 after acquiring an additional 379,630 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SRRK. Wedbush restated an "outperform" rating and issued a $50.00 price target on shares of Scholar Rock in a research report on Wednesday, June 18th. Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd. Jefferies Financial Group assumed coverage on Scholar Rock in a research report on Thursday, August 21st. They set a "buy" rating and a $50.00 target price for the company. BMO Capital Markets decreased 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. Finally, Cantor Fitzgerald began coverage on Scholar Rock in a research report on Thursday, July 17th. They set an "overweight" rating 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. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $45.75.

Scholar Rock Stock Down 4.7%

NASDAQ SRRK traded down $1.63 during trading on Thursday, hitting $32.75. The company's stock had a trading volume of 1,793,371 shares, compared to its average volume of 1,282,972. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. The company has a market cap of $3.15 billion, a PE ratio of -11.28 and a beta of 0.36. The business's 50 day simple moving average is $35.61 and its 200-day simple moving average is $33.56. Scholar Rock Holding Corporation has a fifty-two week low of $6.76 and a fifty-two week high of $46.98.

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

Insider Activity

In other news, Director Jeffrey S. Flier sold 20,316 shares of Scholar Rock stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $32.24, for a total value of $654,987.84. Following the completion of the transaction, the director owned 24,070 shares in the company, valued at approximately $776,016.80. This trade represents a 45.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mo Qatanani sold 24,066 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total value of $828,833.04. Following the completion of the transaction, the insider directly owned 115,495 shares in the company, valued at approximately $3,977,647.80. The trade was 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. Company insiders own 13.30% of the company's stock.

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.