Redmile Group LLC Has $141.41 Million Stake in Scholar Rock Holding Corporation $SRRK

Key Points

• Redmile Group LLC reduced its stake in Scholar Rock by 3.3%, selling 151,600 shares during the first quarter, while still holding approximately 4.64% of the company, valued at $141.4 million.
• Analysts are generally positive on the stock, with a consensus rating of "Buy" and a consensus price target of $45.75, despite recent price target reductions from some firms.
• Insider selling activity has occurred, with directors selling significant amounts of stock, indicating a 45.77% and 17.24% decrease in their holdings after these transactions.

Redmile Group LLC reduced its position in Scholar Rock Holding Corporation (NASDAQ:SRRK - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,398,281 shares of the company's stock after selling 151,600 shares during the quarter. Scholar Rock comprises about 13.4% of Redmile Group LLC's holdings, making the stock its largest position. Redmile Group LLC owned approximately 4.64% of Scholar Rock worth $141,405,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 101,723 shares in the last quarter. Fairmount Funds Management LLC acquired a new stake in Scholar Rock during the 4th quarter worth approximately $84,839,000. Wellington Management Group LLP grew its position in Scholar Rock by 6.9% in the first 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 acquired a new stake in Scholar Rock in the first quarter valued at approximately $41,795,000. Finally, RA Capital Management L.P. boosted its stake in shares of Scholar Rock by 6,351.3% during 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 buying an additional 1,118,837 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Mo Qatanani sold 24,066 shares of the business's stock in a transaction that occurred 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 sale, the insider directly owned 115,495 shares in the company, valued at approximately $3,977,647.80. The trade was a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey S. Flier sold 11,136 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $40.02, for a total value of $445,662.72. Following the completion of the sale, the director directly owned 24,070 shares in the company, valued at approximately $963,281.40. This represents a 31.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,654 shares of company stock worth $2,299,310. 13.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Jefferies Financial Group assumed coverage on Scholar Rock in a research note on Thursday, August 21st. They set a "buy" rating and a $50.00 price objective on the stock. BMO Capital Markets lowered their target price on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Cantor Fitzgerald assumed coverage on Scholar Rock in a research report on Thursday, July 17th. They set an "overweight" rating for the company. Finally, Wedbush reiterated an "outperform" rating and set a $50.00 price target 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $45.75.

Scholar Rock Stock Performance

NASDAQ SRRK traded down $1.03 during trading on Friday, hitting $31.41. The company's stock had a trading volume of 2,113,953 shares, compared to its average volume of 1,712,805. 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 firm has a 50 day moving average price of $35.46 and a 200 day moving average price of $33.46. The firm has a market cap of $3.02 billion, a P/E ratio of -10.79 and a beta of 0.36. Scholar Rock Holding Corporation has a 52 week low of $6.76 and a 52 week high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly 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 period in the prior year, the company earned ($0.60) earnings per share. Equities research analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.

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.