Rafferty Asset Management LLC Purchases 33,594 Shares of Scholar Rock Holding Corporation $SRRK

Key Points

• Rafferty Asset Management LLC has increased its stake in Scholar Rock Holding Corporation by 43.0%, now holding 111,671 shares valued at approximately $3.59 million.
• Scholar Rock's stock is currently trading down 1.9% at around $32.65, with a market cap of $3.14 billion and a PE ratio of -11.22.
• Equities research analysts have a consensus rating of "Buy" for Scholar Rock, with price targets ranging from $45 to $57, indicating strong future potential.

Rafferty Asset Management LLC boosted its holdings in shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 43.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,671 shares of the company's stock after acquiring an additional 33,594 shares during the quarter. Rafferty Asset Management LLC owned 0.12% of Scholar Rock worth $3,590,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Corebridge Financial Inc. grew its holdings in Scholar Rock by 2.2% during the 1st quarter. Corebridge Financial Inc. now owns 39,389 shares of the company's stock worth $1,266,000 after acquiring an additional 850 shares during the last quarter. AlphaQuest LLC grew its holdings in Scholar Rock by 490.7% during the 1st quarter. AlphaQuest LLC now owns 5,417 shares of the company's stock worth $174,000 after acquiring an additional 4,500 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Scholar Rock by 27.4% during the 1st quarter. Hsbc Holdings PLC now owns 16,883 shares of the company's stock worth $529,000 after acquiring an additional 3,627 shares during the last quarter. Wellington Management Group LLP grew its holdings in Scholar Rock by 6.9% during the 1st quarter. Wellington Management Group LLP now owns 1,844,997 shares of the company's stock worth $59,317,000 after acquiring an additional 119,375 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Scholar Rock by 2.5% during the 1st quarter. Northern Trust Corp now owns 765,280 shares of the company's stock worth $24,604,000 after acquiring an additional 18,753 shares during the last quarter. 91.08% of the stock is owned by institutional investors.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, Director Jeffrey S. Flier sold 20,316 shares of the company's 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 in the company, valued at approximately $776,016.80. This represents a 45.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mo Qatanani sold 24,066 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $34.44, for a total transaction of $828,833.04. Following the transaction, the insider owned 115,495 shares in the company, valued at approximately $3,977,647.80. The trade was a 17.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,654 shares of company stock worth $2,299,310. Corporate insiders own 13.30% of the company's stock.

Scholar Rock Stock Up 1.4%

SRRK traded up $0.47 during trading on Tuesday, hitting $33.12. 1,615,698 shares of the company's stock were exchanged, compared to its average volume of 1,277,218. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $35.65 and its two-hundred day moving average is $33.56. Scholar Rock Holding Corporation has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The stock has a market cap of $3.18 billion, a P/E ratio of -11.38 and a beta of 0.36.

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 for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same period in the previous year, the business posted ($0.60) EPS. As a group, equities analysts expect that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SRRK shares. 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 started coverage on shares of Scholar Rock in a research note on Thursday, August 21st. They issued a "buy" rating and a $50.00 price objective on the stock. BMO Capital Markets reduced their price objective 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 objective on shares of Scholar Rock and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, Lifesci Capital raised shares of Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus 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.