Price T Rowe Associates Inc. MD Sells 389,535 Shares of Scholar Rock Holding Corporation $SRRK

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Scholar Rock Holding Corporation by 4.2%, selling 389,535 shares and now holds approximately 8,893,886 shares valued at $285,939,000.
• Scholar Rock reported a quarterly EPS of (0.98), missing analysts' expectations, and has a consensus rating of Buy with an average price target of $45.75.
• Institutional investors now own 91.08% of Scholar Rock's stock, indicating strong interest from major financial players.

Price T Rowe Associates Inc. MD lowered its stake in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,893,886 shares of the company's stock after selling 389,535 shares during the period. Price T Rowe Associates Inc. MD owned approximately 9.38% of Scholar Rock worth $285,939,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. GF Fund Management CO. LTD. increased its position in shares of Scholar Rock by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after purchasing an additional 430 shares during the period. CWM LLC increased 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 worth $32,000 after purchasing an additional 602 shares during the period. Arizona State Retirement System increased its position in shares of Scholar Rock by 10.2% in the first quarter. Arizona State Retirement System now owns 18,767 shares of the company's stock worth $603,000 after purchasing an additional 1,734 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Scholar Rock by 12.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,557 shares of the company's stock valued at $597,000 after buying an additional 2,051 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new stake in Scholar Rock in the first quarter valued at about $71,000. Institutional investors own 91.08% of the company's stock.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $35.49 on Friday. The business's 50-day moving average price is $35.71 and its 200-day moving average price is $33.79. Scholar Rock Holding Corporation has a 12 month low of $6.76 and a 12 month high of $46.98. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -12.20 and a beta of 0.48. 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 in the previous year, the business earned ($0.60) earnings per share. Equities research analysts forecast that Scholar Rock Holding Corporation will post -2.42 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on Scholar Rock in a research note on Thursday, July 17th. They issued an "overweight" rating on the stock. Wedbush reaffirmed an "outperform" rating and issued a $50.00 price objective on shares of Scholar Rock in a research note on Wednesday, June 18th. Jefferies Financial Group assumed coverage on Scholar Rock in a research note on Thursday. They issued a "buy" rating and a $50.00 price objective on the stock. BMO Capital Markets reduced their price objective on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $45.75.

Insider Buying and Selling

In related news, insider Akshay Vaishnaw sold 6,750 shares of Scholar Rock stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $200,610.00. Following the transaction, the insider directly owned 616,205 shares of the company's stock, valued at $18,313,612.60. The trade was a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey S. Flier sold 20,316 shares of Scholar Rock stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $32.24, for a total value of $654,987.84. Following the completion of the transaction, the director directly owned 24,070 shares in the company, valued at approximately $776,016.80. This represents a 45.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,654 shares of company stock valued at $3,101,811 over the last 90 days. 13.30% of the stock is currently owned by corporate insiders.

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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