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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC grew 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 acquiring an additional 602 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Scholar Rock in the 1st quarter valued at approximately $71,000. GF Fund Management CO. LTD. lifted its position in shares of Scholar Rock by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after buying an additional 430 shares during 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 acquiring an additional 4,500 shares during the period. Finally, Tema Etfs LLC acquired a new stake in Scholar Rock in the fourth quarter worth $209,000. Institutional investors and hedge funds own 91.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Leerink Partnrs raised Scholar Rock to a "strong-buy" rating in a research note on Monday. Leerink Partners assumed coverage on Scholar Rock in a report on Monday. They issued an "outperform" rating and a $51.00 target price on the stock. Raymond James Financial set a $53.00 price objective on shares of Scholar Rock and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Jefferies Financial Group started coverage on shares of Scholar Rock in a report on Thursday, August 21st. They set a "buy" rating and a $50.00 price target for the company. Finally, Cantor Fitzgerald initiated coverage on Scholar Rock in a research note on Thursday, July 17th. They set an "overweight" rating for the company. Three investment analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $46.20.

Insider Activity at Scholar Rock

In other news, Director Jeffrey S. Flier sold 11,136 shares of Scholar Rock stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $40.02, for a total transaction of $445,662.72. Following the completion of the transaction, the director directly owned 24,070 shares in the company, valued at approximately $963,281.40. The trade was a 31.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mo Qatanani sold 3,178 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $33.52, for a total transaction of $106,526.56. Following the completion of the transaction, the insider owned 112,317 shares in the company, valued at approximately $3,764,865.84. This trade represents a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,838 shares of company stock valued at $2,438,562. 13.30% of the stock is owned by corporate insiders.

Scholar Rock Price Performance

SRRK traded up $0.53 during midday trading on Thursday, hitting $32.48. The company had a trading volume of 1,618,304 shares, compared to its average volume of 1,650,013. The firm's 50-day simple moving average is $34.83 and its 200-day simple moving average is $33.16. Scholar Rock Holding Corporation has a twelve month low of $6.76 and a twelve month high of $46.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.33 and a current ratio of 6.33. The company has a market capitalization of $3.12 billion, a PE ratio of -11.16 and a beta of 0.36.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly 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 period in the prior year, the business posted ($0.60) EPS. Equities research analysts predict that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

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.