Jones Financial Companies Lllp Purchases New Stake in Scholar Rock Holding Corporation $SRRK

Key Points

• Jones Financial Companies Lllp has acquired a new stake in Scholar Rock Holding Corporation, purchasing 36,044 shares valued at approximately $1,159,000 during the first quarter.
• Insider transactions include Mo Qatanani selling 24,066 shares and Jeffrey S. Flier selling 11,136 shares, leading to significant decreases in their ownership percentages.
• Analysts have largely rated Scholar Rock positively, with a consensus target price of $45.75, though the company reported earnings that missed estimates, leading to a current stock price of $31.67.

Jones Financial Companies Lllp purchased a new stake in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 36,044 shares of the company's stock, valued at approximately $1,159,000.

Other hedge funds also recently made changes to their positions in the company. CWM LLC raised its stake in shares of Scholar Rock by 152.8% during the first quarter. CWM LLC now owns 996 shares of the company's stock valued at $32,000 after purchasing an additional 602 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Scholar Rock during the first quarter valued at approximately $71,000. GF Fund Management CO. LTD. raised its stake in shares of Scholar Rock by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock valued at $77,000 after purchasing an additional 430 shares during the period. AlphaQuest LLC raised its stake in shares of Scholar Rock by 490.7% during the first quarter. AlphaQuest LLC now owns 5,417 shares of the company's stock valued at $174,000 after purchasing an additional 4,500 shares during the period. Finally, Tema Etfs LLC purchased a new stake in shares of Scholar Rock during the fourth quarter valued at approximately $209,000. Hedge funds and other institutional investors own 91.08% of the company's stock.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 24,066 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total transaction of $828,833.04. Following the completion of the sale, the insider owned 115,495 shares in the company, valued at $3,977,647.80. The trade was a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey S. Flier sold 11,136 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $40.02, for a total transaction of $445,662.72. Following the sale, the director owned 24,070 shares of the company's stock, valued at approximately $963,281.40. The trade was a 31.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,654 shares of company stock valued at $2,299,310. 13.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SRRK. Raymond James Financial set a $53.00 price objective on shares of Scholar Rock and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Cantor Fitzgerald began coverage on shares of Scholar Rock in a research note on Thursday, July 17th. They set an "overweight" rating on the stock. Wedbush reiterated an "outperform" rating and set a $50.00 price objective on shares of Scholar Rock in a research note on Wednesday, June 18th. Jefferies Financial Group assumed coverage on shares of 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, 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. Two investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $45.75.

Scholar Rock Stock Down 0.5%

Shares of NASDAQ:SRRK opened at $31.67 on Friday. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $35.11 and a 200 day simple moving average of $33.28. The firm has a market cap of $3.04 billion, a PE ratio of -10.88 and a beta of 0.36. Scholar Rock Holding Corporation has a 12-month low of $6.76 and a 12-month high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its 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 previous year, the company posted ($0.60) EPS. On average, equities research analysts anticipate that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal 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.

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