Nuveen LLC Takes Position in Scholar Rock Holding Corporation $SRRK

Key Points

• Nuveen LLC acquired 397,342 shares of Scholar Rock Holding Corporation, valued at approximately $12.8 million, representing a 0.42% ownership in the company.
• Scholar Rock reported ($0.98) earnings per share for the last quarter, missing analyst estimates, with a projected -2.42 EPS for the current fiscal year.
• Analysts have varying price targets for Scholar Rock, with a consensus average target of $45.75, indicating bullish sentiment towards the stock.

Nuveen LLC purchased a new position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 397,342 shares of the company's stock, valued at approximately $12,775,000. Nuveen LLC owned 0.42% of Scholar Rock at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Scholar Rock by 152.8% in the first quarter. CWM LLC now owns 996 shares of the company's stock worth $32,000 after purchasing an additional 602 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Scholar Rock in the first quarter worth approximately $71,000. GF Fund Management CO. LTD. lifted its stake in shares of Scholar Rock by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after acquiring an additional 430 shares during the last quarter. Tema Etfs LLC purchased a new position in Scholar Rock during the 4th quarter valued at $209,000. Finally, Mackenzie Financial Corp purchased a new position in Scholar Rock during the 4th quarter valued at $212,000. 91.08% of the stock is currently owned by institutional investors.

Scholar Rock Trading Up 0.6%

NASDAQ SRRK opened at $34.59 on Friday. Scholar Rock Holding Corporation has a one year low of $6.76 and a one year 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 $3.33 billion, a price-to-earnings ratio of -11.89 and a beta of 0.48. The company's 50-day simple moving average is $35.65 and its two-hundred day simple moving average is $33.88.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings data 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 previous year, the company posted ($0.60) EPS. Equities analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mo Qatanani sold 24,066 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was 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 of the company's stock, valued at approximately $3,977,647.80. The trade was a 17.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kristina Burow sold 5,400 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $160,488.00. Following the sale, the director owned 21,071 shares of the company's stock, valued at $626,230.12. This trade represents a 20.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 93,654 shares of company stock worth $3,101,811. Insiders own 13.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on SRRK shares. Raymond James Financial set a $53.00 target price on Scholar Rock and gave the stock a "strong-buy" rating in a research note on Wednesday, July 30th. BMO Capital Markets decreased their price objective 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. Cantor Fitzgerald initiated coverage on shares of Scholar Rock in a research report on Thursday, July 17th. They issued an "overweight" rating for the company. Jefferies Financial Group assumed coverage on shares of Scholar Rock in a research report on Thursday. They set a "buy" rating and a $50.00 target price on the stock. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $45.75.

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.

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