Polar Asset Management Partners Inc. Sells 12,426 Shares of Scholar Rock Holding Corporation $SRRK

Key Points

• Polar Asset Management Partners Inc. reduced its stake in Scholar Rock Holding Corporation by 60.3%, selling 12,426 shares and holding 8,174 shares valued at $263,000 at the end of the last quarter.
• Institutional investors now own 91.08% of Scholar Rock’s stock, with several firms, including CWM LLC and AlphaQuest LLC, making significant increases to their positions during the same period.
• Scholar Rock reported a loss per share of ($0.98), missing analysts' expectations, and its stock has a consensus rating of "Buy" with a target price of $45.75.

Polar Asset Management Partners Inc. trimmed its position in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 60.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,174 shares of the company's stock after selling 12,426 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Scholar Rock were worth $263,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Scholar Rock by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 4,845,205 shares of the company's stock valued at $155,773,000 after acquiring an additional 101,723 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Scholar Rock by 26.5% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,018,000 shares of the company's stock valued at $64,879,000 after acquiring an additional 423,131 shares in the last quarter. Wellington Management Group LLP lifted its position in Scholar Rock by 6.9% in the 1st quarter. Wellington Management Group LLP now owns 1,844,997 shares of the company's stock valued at $59,317,000 after acquiring an additional 119,375 shares in the last quarter. Vestal Point Capital LP bought a new stake in Scholar Rock in the 1st quarter valued at $41,795,000. Finally, RA Capital Management L.P. lifted its position in Scholar Rock by 6,351.3% in the 1st quarter. RA Capital Management L.P. now owns 1,136,453 shares of the company's stock valued at $36,537,000 after acquiring an additional 1,118,837 shares in the last quarter. 91.08% of the stock is owned by institutional investors.

Scholar Rock Stock Performance

Shares of Scholar Rock stock traded down $0.03 during trading on Friday, hitting $31.81. 394,097 shares of the stock were exchanged, compared to its average volume of 1,292,327. Scholar Rock Holding Corporation has a 1-year low of $6.76 and a 1-year high of $46.98. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -10.92 and a beta of 0.36. The company has a fifty day moving average price of $35.19 and a 200-day moving average price of $33.31. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on SRRK. Wedbush reiterated an "outperform" rating and issued a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, June 18th. Cantor Fitzgerald began coverage on shares of Scholar Rock in a research note on Thursday, July 17th. They issued an "overweight" rating on the stock. BMO Capital Markets lowered their price target on shares of Scholar Rock from $57.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Raymond James Financial set a $53.00 price target on shares of Scholar Rock and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group began 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 on the stock. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $45.75.

Insider Transactions at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 24,066 shares of the business's stock in a transaction dated 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 sale, the insider owned 115,495 shares of the company's stock, valued at $3,977,647.80. The trade was a 17.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey S. Flier sold 11,136 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $40.02, for a total transaction of $445,662.72. Following the completion of the sale, the director directly owned 24,070 shares of the company's stock, valued at $963,281.40. This represents a 31.63% 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 three months. 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.