Nuveen LLC Purchases Shares of 397,342 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 stake in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SRRK. CWM LLC raised its position in shares of 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 purchasing an additional 602 shares during the period. Federated Hermes Inc. bought a new stake in Scholar Rock during the 1st quarter worth approximately $71,000. GF Fund Management CO. LTD. increased its holdings in 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 period. Tema Etfs LLC bought a new stake in Scholar Rock during the 4th quarter worth approximately $209,000. Finally, Mackenzie Financial Corp bought a new stake in Scholar Rock during the 4th quarter worth approximately $212,000. Institutional investors own 91.08% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SRRK. Cantor Fitzgerald began coverage on shares of Scholar Rock in a report on Thursday, July 17th. They set an "overweight" rating on the stock. Jefferies Financial Group began coverage on shares of Scholar Rock in a report on Thursday, August 21st. They set a "buy" rating and a $50.00 target price on the stock. Raymond James Financial set a $53.00 target price on shares of Scholar Rock and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. Lifesci Capital raised shares of Scholar Rock to a "strong-buy" rating in a report on Tuesday, June 3rd. Finally, Wedbush reaffirmed an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a report on Wednesday, June 18th. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat.com, Scholar Rock has a consensus rating of "Buy" and a consensus price target of $45.75.

Scholar Rock Trading Up 2.0%

Shares of SRRK stock traded up $0.69 on Wednesday, hitting $34.47. 1,162,920 shares of the company's stock traded hands, compared to its average volume of 1,979,054. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.33 and a current ratio of 6.33. Scholar Rock Holding Corporation has a one year low of $6.76 and a one year high of $46.98. The company's fifty day simple moving average is $35.75 and its 200 day simple moving average is $33.71. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -11.85 and a beta of 0.48.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its 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 quarter in the prior year, the company earned ($0.60) EPS. Equities analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Insider Activity at Scholar Rock

In related news, Director Jeffrey S. Flier sold 20,316 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $32.24, for a total transaction of $654,987.84. Following the transaction, the director owned 24,070 shares of the company's stock, valued at approximately $776,016.80. This trade represents a 45.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kristina Burow sold 5,400 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $160,488.00. Following the sale, the director directly owned 21,071 shares of the company's stock, valued at $626,230.12. The trade was a 20.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,654 shares of company stock worth $3,101,811 in the last 90 days. Corporate insiders own 13.30% of the company's stock.

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.